BTC Update

٨ مايو

A leading diagonal has absorbed all the previous attempts to spot downward impulse waves on minute timeframes. Most likely we are in for a small bounce or sideways action before the plunge.

Since I am expecting an expanding diagonal, I label subwaves as nested abc zigzag within wxy double zigzag. I have a rule that expanding diagonals can be made of double zigzags only. And subwaves never break the trendlines of the expanding diagonal as opposed to what often happens in contracting one.

No advice, can be terribly wrong here.