Volatility has dropped to near historic lows and BTC is breaking out of the bottom of this triangle. We are likely to see a big move down coming very soon as volatility tends to rapidly increase after reaching its low point. If Wave-e is retraced faster than it was formed that means we’ve probably ended Wave-D and are going to see Wave-E taking BTC down to around $10k by the end of the year or early next year.
Based on the time target for Wave-D it’s very likely it has ended now. There are also strong momentum divergences, price action indicators, and moving averages indicating we should see a big move down soon. Fundamental and Macroeconomic factors are also bearish.
If this retracement of wave-e continues slowly then we may see a wave-f and wave-g before the larger wave-D is finished, but long-term remains similar in that we won’t see a real bull market for almost 2 years.
