Bitcoin current legs developement
Impulsive wave can develope in different manners. Here is how i see it currently.
At least i can separate it in two different potential patterns.
This wave can either complete the wave C of a larger zig zag, or this is only the wave 1 of the macro wave 3 that will lead us to over 100 000 per BTC.
Send it
At least i can separate it in two different potential patterns.
This wave can either complete the wave C of a larger zig zag, or this is only the wave 1 of the macro wave 3 that will lead us to over 100 000 per BTC.
Send it
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Possible patterns
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Daily dose of btc. Double zig zag as a correction is out of the picture.
Current move looks impulsive
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Leaning towards this right now .
Flat wave 4.
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No matter what, im still thinking not done.
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Down to 2 paths now.
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Realistic ending diagonal possibility.
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conservative count soon done.
another circled 4 5 for optimistic count still possible
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This is suggesting a road to 50 k. At this rate i would consider only scalping these ranges. Heavy longs are supposed to have a decent stop loss.
algo targets presented for potential bounce areas of supposed waves 4.
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Idealy we keep 0.23 for a continuation pattern and bounce of the channel.
Alt and last stand for me would be 0.38 wickery that would hopefully be bought back and sent further up.
Current pa is not impulsive downwards so overall feeling is still up.
Btc would rather make a flat x than a triangle x . On the image i suggested both cases.
If we have a triangle x, thats great news because it indicates the last corrective wave incoming.
PS- Its almost never a triangle .
Stay safe
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Local count. Potential roads and alternations.
If Zig zag down for W then multiple zig zag for X we would need only flat or triangle for Y and we would be done
If zig zag down for A and this is alternate zig zag up (labeled in yellow impulsive ) then motive for C is needed to drop down. Current price action downwards is corrective so i cant see an impulse or diag. This is why i longed now.
We are at the support of that impulsive channel as well. still didnt touch algo targets for waves 4.
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Potential roads i am eyeing on macro level.
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Micro time frame if we arent done with the current leg.
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More ideas if we break that channel
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Something about to bottom for the moment
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Local bottom is in
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