In yesterday’s analysis pointed out that the dump to $10k is incoming and it will lasts next 3-4 months. I hope I am gonna be right because in opposite case the world will dive in the darkness next year. $32800 breakout it the scenario which nobody want to see. In this case the bear market will be for the next 3-4 years (compare it with 3-4 months). Just imajine which events could happen in the world in this case.
Now let’s jump into the local Bitcoin analysis. In my opinion now the first impulse of the last bearish wave is forming. In general, my local forecast remains the same. The only one difference is that wave 2 is forming in the shape of triangle ABCDE correction. The wave 3 is incoming and it has the insane target at $23600. I don’t think we will see the start of this move this weekend. I am going to use any bounce to short the Bitcoin with the best risk to reward.
Best regards, Ivan
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