Short

$BTC Bitcoin started first leg of final wave

Updated

EW model with targets shown in the blue lines proof is in the pudding (look below)

imagine *If* only somebody had taught us all this, let alone taken initiative to educate ourselves properly..........

if you're looking to enter late short, you must wait until wave (ii) in white is completed. You can enter there
if you're looking to scalp longs, can simply wait for local bottoms to flip quick profits off the dips at bottom of channel once each wave is fully completed.

Patience is a grown mans' game.

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still on track our EW roadmap working fine.

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still on track, overextending on both sides, its normal to get similar reaction in counter wave. roadmap is going well.

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BTC wnt up bit higher than projected, we did anticipate it and kept an altenative wave count on deck in case it did. We also favored the move up higher to be a bulltrap and atm thats how its playing out. Next re-test of 48k high will tell us more. For the moment we count the waves and trade it. When market will give us more clarity & definition we can better assess and reinvest. Still keeping a mid 20-s target for BTC.

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current wave count. should be choppy for a few more days, perhaps for Monday morning premarket. We'll be looking to accumulate long positions (or spot) while BTC completes that wave (iii) and (v) in white. should be withing the 39-36k range but we can easily wick down as it often does. wave (iii) white should get a nice 3 wave bounce to retrace approx 0.236-0.382 of the entire move down from the 48k March high followed by another leg lower to complete wave (v). when BTC completes wave (iii), alts should get very nice pump (as usual) 20%-40% easily on most alts.

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Current wave count. should be choppy for a few more days, perhaps for Monday morning premarket. We'll be looking to accumulate long positions (or spot) while BTC completes that wave (iii) and (v) in white. should be within the 39-36k range but we can easily wick down as it often does. wave (iv) white should get a nice 3 wave bounce to retrace approx 0.236-0.382 of the entire move down from the 48k March high followed by another leg lower to complete wave (v). when BTC completes wave (iii), alts should get very nice pump (as usual) 20%-40% easily on most alts. if your're looking to go long, aim to accumulate/build position when BTC re-enters around those pink lines to complete (iii), then take some profits on the wave (iv) bounce, and then re-build your position from lower in wave (v). Rememberl there are no guarantees on the outcome, we're using probabilities to favor price action, not predict, project! a wave v of (iii) can also be wave (v) of 1, we won't know untill its too late. Practise risk management, protect your capital and trade safely.

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VOLATILITY is OPPORTUNITY
Trade the waves and bank profits

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wave (v) may be completed. if not, shouldn't have much further downside. If you've accumulated at the lows, you should be fine. Take profits along the way as we go re-test 48k high. if wave count is correct, then wave 2 should take us to a maximum of 0.764 retracement. If we break past 48k, then wave count will need to be readjusted.

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*IF* we make another LL, we can label it like this, shouldnt be much lower (more of a liquidity grab), similar to the red arrows shown. You can measure the target zone based on wave (iii) & (iv) with the fib retracement (pink lines), just measure from bottom of propsed (iii) to top of propsed (iv). Once theyre in place, we can narrow down the target range. I prefer to split my orders into 4 in the range, one just above the 1.236, 1 just bleow, same for the 1.618 area. 1/4 orders will likely fill if not all 4 (just my wn strategy I use in variation)

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for example to calculate target for wave v ending

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to me, resembles the red circles better than yellow circles.

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still favoring this count, but as mentioned (v) might be completed. Looking at it with the hidden bearish divergence I'd anticipate a LL, shouldnt be a big drop, id say stays above 36/37 n then bounces. May have been bull trap (with the hidden bearish divergence) or bulls might be building a bear trap to push higher. Wont know till its too late. Either case, remain prepared as I suggested to accumulate position to long and take profits along the way up. If u applied this, u will be fine in tis wave.

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proposed (iv) reached the 0.382 and didnt pass the 0.5 so that does help favor it as a (iv). keep in mind, any 4/iv typically does not retrace past the 0.5 of the wave. it *can* wick up to the 0.618 but shouldn't. wave 2/ii, typically retraces maximum 0.764, and it too can wick just beyond but shouldnt close above it. THESE 2 are VERY vital things to learn and apply during the bear trend, its what I've learned and your BEST chance of banking profits on spot/longs. Takes time to learn it and use it but we're using probability not exact science.

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BUY ZONE for wave v target area. It doesnt have to reach the target range, cna just make a LL by 1 cent and then take off. But in terms of targets based on EW and using the bear flag pole measured move, we can favor the lower target

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the wave (iv) respected EW principles and stayed below the 0.5 fib, as projected between the 0.236-0.382 area. So either that was wave (iv) or wave 2. Am favoring it as wave (iv) with wave 2 retracement up to maximum 0.764 fib in the form of retesting 48k. Here I hope u guy shave been accumulating your position and spots to take profits on move up. Should fail below 48k but who knows, maybe we will go higher and test 50k. Unlikely but possible. Mondays have been green for markets often esp after massive selloffs

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favoring wave 3 as incompleted with 1 more lower low remaining. Ideally, it can be completed. Might get some wxy's in between. Can see the Wykoff accumulation schematic being formed, currently looks like R1 is being printed before we start the ST and get our 1st spring.
The current structure can also be viewed as SC, AR R1 and Spring already completed. I wouldnt trade based on this as the AR seemed very weak and slow. But we are within the range and should remain above 20k for next month or 2. Keeping in mind that in May of 2021, we had similar breakdown and Wykoff scheme, can use that as reference. As for EW, wave 3 is either completed or in process of being completed

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wykoff accumulation, just a projection.
I still favor further downside in the mid and long term.
short term local bottom is close and if so, alts should get massive rallies while BTC completes this phase before we go up to retest that 40k-45k resistance

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should be close to completed a local short term bottom/low
we can still range lower as u see the bear flag pole, however its not a guarantee this can just as easily be a bear trap to push up. either way, DCA strategy & risk management are your safest bets.

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an alternative view that can also be potential count to consider

CryptoHolix

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