Bitcoin due for over 50% correction or forming wave 4 triangle?
تم تحديثه
Hello.
Have been studying, learning and viewing the charts.
Hoping to share this idea as a current view of the market from a student.
Feeling that the run from $3000 to $13800 may have found exhaustion.
If we break above the 50 ema on the hourly chart around $11600 then I think it is possible
that we are finishing a triangle in sub wave 4 before the last impulse.
Personally I think we are in sub wave 2 and are going to correct over 50% during a WXY
Alternate estimate:
Have been studying, learning and viewing the charts.
Hoping to share this idea as a current view of the market from a student.
Feeling that the run from $3000 to $13800 may have found exhaustion.
If we break above the 50 ema on the hourly chart around $11600 then I think it is possible
that we are finishing a triangle in sub wave 4 before the last impulse.
Personally I think we are in sub wave 2 and are going to correct over 50% during a WXY
Alternate estimate:
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Still feels to me like we are finishing a flat but that the flat wouldnt have a target low enough to satisfy Elliott wave rules.I think we will form a double three with X starting at 9k and Y starting at
12Kleading us down to $7250 which i find is a fib confluence zone.
Hitting the WXY 1:1 ratio and the 61.8% retracement
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Updated the Zig Zag to fit the 3-7-11 Swings conceptملاحظة
Also made the Zig Zag a 5-3-5 as it should beملاحظة
Ready for the flat to end in the next couple daysملاحظة
Flat (3-3-5) finishing upملاحظة
Cleaner on the 4 hour chartملاحظة
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My timing & target was pretty closeThinking we play in a range for a few days. Possible triangle formation.
Looking for price to drop closer to 10k then eyeing
12Kملاحظة
To 12K from here to finish off the rest of the monthI thought 10k would hold so I jumped in early there
Held all the way down thinking $9500 would be my invalidation number
as 61.8% retracement fib level was there.
Added more from bank since I jumped in early.
Another lesson in why I need to wait for confirmation.
The X leg is tough to plan
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I was tired when I typed 61.8% instead of 78.6%ملاحظة
Someone is really messing with my emotions! Not sure
12K by the 31st will happen now. Still feeling we have to break upwards from here some
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Unforeseen market manipulationWhale had 4k BTC sold on Binance, not sure if any other exchange activity by them.
Back to trying to break upward again
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Still estimating we are in an ABC Any Three of a WXYEstimating we will pivot in a few days around $11700
but the target is the supply line (Gann 8/1)
Time cycle caught the change of charactor
Work keeps me from actively posting
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Possible Ending Diagonalملاحظة
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