The Crypto Winter 2018 – 2019 Illustrated in EW + Bitcoin 2010 – 2019 in EW
Here is a look at what the 2018 – 2019 bear market could look like in terms of Elliot Waves. This rough sketch implies we are on a corrective 4th wave before the final 5th wave down.
That would then be followed by an ABC correction (as illustrated below). From that point, we would look for a new trend to emerge (hopefully an uptrend).
DISCLAIMER: I’m not a master of charts or EW specifically. The charts below are meant to convey general ideas only, they are not meant to convey price or time targets. They are simply very rough sketches to convey very rough ideas. Please don’t trade off my charts or ideas. Not only are the charts and ideas not investing advice, but also they probably don’t even qualify as educational… it is more like, “hmmm, I wonder?” 😉
That whole thing sort of works with a much higher time frame wave pattern that I can illustrate on Bitcoin since 2010. Here I am drawing a very mild correction that ignores some EW standards in terms of the ABC correction in favor of a more bullish case (the bear version of this would have the A wave end at the 3 and the C wave end at the 4… a full retrace to the bottom of the 2015 bear).
Anyway, the bull version of the overarching wave pattern might look like this:
All that noted, the above are just from friendly ideas meant to illustrate the wave like nature of crypto and point out that we can see a nice run now, even if the bear market isn’t over, and that even though this bear market has felt pretty bad, it doesn’t mean this is the end of crypto.