Blocksmith Says: BTC to Crash Even Lower

Bitcoin at 240 minute level looks be constructing a downside continuation triangle. This is an Elliott Wave theory pattern that consists of 5 three wave moves: A, B, C, D, E, and starts forming typically after a very sharp price drop.

The implications are bearish and once wave E completes (and that will be a final mini up move sucker rally, the pattern is mature and price should crash lower. This week I am expecting a full scale macro rotation with dollar up and equities, crypto and commodities down.