-based target zone. An excellent way to do that is to zoom out. Figures 1 and 2 show the big-picture EWP counts I am tracking for BTC.One vs. two more Bull runs higher.
Albeit BTC is dropping lower than initially expected, my bigger picture upside target remains the same once this correction has run its course: $100K+. Figure 1 shows a pathway for Bitcoin to achieve this astronomical level. In this case, BTC should now be in Cycle 4 wave. Not shown here, but IMHO, Cycle waves 1 and 2 were completed in 2011. In more detail, C-4 appears to be morphing into a zig-zag.
The ideal target zone for this zig-zag is $25905-12125 . As said, based on the smaller waves and perfect path, $24-22K seemed initially a very viable target zone. But since all we can do is “anticipate, monitor, and adjust,” the latter is now prudent. Once C-4 completes, and it will require a break back above the recent highs in May to signal this is the case, C-5 should then be a ~1000% rally from those lows based on previous halving cycles. SeeThus, depending on where exactly BTC will bottom , we can then extrapolate the Cycle 5 target in more detail.
The only advice you should be giving is for people to cut their losses and cash out while the exchanges still have liquidity left. Those who hold till the bitter end are the losers that paid the other players winnings.