Bitcoin / USDTShort
Expanded Flat (BTC 4th wave)
It seems as though BTC is going through its fourth wave as an expanded flat(3-3-5). We see the first 3 waves down from april-june, then the expanded 3 wave from june-nov and now we're in the 5 wave down. This should go farther than the "A" which in this case is June lows. This would make sense as flats usually follow an extension wave which our third wave was(Starting from Dec '18 ending this april).
One thing to note is that although very unlikely, its worth mentioning we could end up in a running flat in which the 5 waves down don't reach the target. Very unlikely especially with the current economic climate but worth saying. If anyone has something I might have missed please let me know, I'm still learning! :)
One thing to note is that although very unlikely, its worth mentioning we could end up in a running flat in which the 5 waves down don't reach the target. Very unlikely especially with the current economic climate but worth saying. If anyone has something I might have missed please let me know, I'm still learning! :)
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