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Both a bullish count and a bearish Elliot wave count are above. Regardless of which side you are on, we are likely in a 3-wave flat (3-3-5) development, and a correction/downward trend is due soon.
For the bearish scenario, if B rises above 9.9k, the current ABC zigzag structure would be invalidated, and would likely turn to a flat. Since flats generally signal trend continuation, it could potentially mean the 5 waves to the upside has not finished, and we are going to have an extended 5th wave (much higher than the bullish scenario on the right).
Do you agree or disagree? All thoughts and critics are welcomed!
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🌐 We believe in the power of blockchain data analysis!
====================================================
Both a bullish count and a bearish Elliot wave count are above. Regardless of which side you are on, we are likely in a 3-wave flat (3-3-5) development, and a correction/downward trend is due soon.
For the bearish scenario, if B rises above 9.9k, the current ABC zigzag structure would be invalidated, and would likely turn to a flat. Since flats generally signal trend continuation, it could potentially mean the 5 waves to the upside has not finished, and we are going to have an extended 5th wave (much higher than the bullish scenario on the right).
Do you agree or disagree? All thoughts and critics are welcomed!
====================================================
🌐 We believe in the power of blockchain data analysis!
====================================================
Note
The question now becomes: when will the CME gap be filled this time around?
Note
TA is now as bullish as FA. However, we simply can't shoot up in a straight line. Institutional traders think 11k is overpriced. 
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Building the future global economic system
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.