Bitcoin Running Flat Elliott Wave (Scenario 1)
There is 2 scenario for #Bitcoin, which I'll show in each post.
Scenario 1: Running Flat Elliott Wave
General knowledge for Running Flat Elliott Wave:
• A corrective 3 waves move labeled as ABC
• Subdivision of waves A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three (in this case was Zigzag)
• Wave B of the 3-3-5 pattern terminates substantially beyond the starting level of wave A as in an expanded flat (which everyone thought the correction is over and the bull market started)
• Wave C fails to travel the full distance, falling short of the level where wave A ended
• Wave C needs to have momentum divergence (in this wave we can see the ending diagonal)
Scenario 1: Running Flat Elliott Wave
General knowledge for Running Flat Elliott Wave:
• A corrective 3 waves move labeled as ABC
• Subdivision of waves A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three (in this case was Zigzag)
• Wave B of the 3-3-5 pattern terminates substantially beyond the starting level of wave A as in an expanded flat (which everyone thought the correction is over and the bull market started)
• Wave C fails to travel the full distance, falling short of the level where wave A ended
• Wave C needs to have momentum divergence (in this wave we can see the ending diagonal)
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