This is not financial advice.
In my previous post, I suggested that Minor Wave 4 could go all the way down to 0.618 fib:
However, after doing a deeper dive into the long squeeze in the last day and looking at its recovery, I think
BTC has completed its corrective Minor Wave 4.
This means that we're looking up towards an impulsive Minor Wave 5.
If Minor Wave 5 completes, in my bullish main Elliot Wave count, we would get a full picture for Intermediate Wave 1.
We would then be able to expect an Intermediate Wave 2 correction.
However, while Wave 2 usually corrects 0.618 fib, this time round,BTC has shown inclination and strength to correct between 0.236 and 0.328 levels.
And then we will be making that Impulsive Wave 3 up.
That will be bonkers.
In my previous post, I suggested that Minor Wave 4 could go all the way down to 0.618 fib:
However, after doing a deeper dive into the long squeeze in the last day and looking at its recovery, I think
BTC has completed its corrective Minor Wave 4.This means that we're looking up towards an impulsive Minor Wave 5.
If Minor Wave 5 completes, in my bullish main Elliot Wave count, we would get a full picture for Intermediate Wave 1.
We would then be able to expect an Intermediate Wave 2 correction.
However, while Wave 2 usually corrects 0.618 fib, this time round,
BTC has shown inclination and strength to correct between 0.236 and 0.328 levels.And then we will be making that Impulsive Wave 3 up.
That will be bonkers.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.