https://i.imgur.com/KFVImjz.png
As previously observed, the structure of declining a-b-c wave formations at lower degrees (i.e. Minute and Minor degrees) have been creating golden ratio relationships; where the length of the c-wave being 0.618 times the length of the a-wave; i.e.
Should this relationship between waves continue to unfold at a higher degree, then the larger Major degree a-b-c structure (black labels) forming since 08-JAN-2018 may complete at $8060.1; i.e.
Also, observed:
—At $8061, wave-c equals wave-a in length of the larger a-b-c Cycle degree (cyan labels) structure.
—At $7599, represents a 61.8% decline of the entire Bitcoin market.
The average of these three price points (i.e. $8060.1/$8061/$7599) is $7907 —the target of the short position opened at $12485.