BTC on its way to 2nd upward rally
Updated
The Wave structure shown in the above chart is my main wave count for BTC for time being. I am expecting upward rally to continue.
The chart is self explanatory.
On lower time frame, Wave 1 (not shown in chart) started from the low where the corrective wave count ended. I am expecting we are still in wave 3 on LTF despite being bearish for past ~45 hours.
Overall, the next weeks should be positive for BTC.
The chart is self explanatory.
On lower time frame, Wave 1 (not shown in chart) started from the low where the corrective wave count ended. I am expecting we are still in wave 3 on LTF despite being bearish for past ~45 hours.
Overall, the next weeks should be positive for BTC.
Trade active
Note
I am starting to believe, the below given Wave count interpretation is more accurate. But only time will tell how the market plays out.Note
The rally is almost over. The cycle has been completed, BTC went up more than I expected, but its clear to me that the wave cycle which started from this initial post time has ended as shown in the chart below along with breakdown of the whole cycle.Note
Short term drop is imminent, but after that short term drop, BTC has 2 scenarios. It can either form a bigger 5 wave as shown below which will then lead to 100k which is shown in the chart below:
Or we can go in a bigger bear market towards the below 20k areas from here by making this whole upward move from the bottom as a ABC correction as shown in the chart below:
Personally, I am hoping for the bullish case but I am also aware that many people are not expecting to see BTC at 20k once more from here which makes me wonder if Bears will finally manage to get everybody by surprise.
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