BTC possible wave count

Updated

It seems that bitcoin's correction wave (2) is near completion, with it starting near the 14k level to 6.5k with an WXYXZ correction pattern. Therefore, on the short term I suspect that this is a possible wave count, if it turns out to be similar to this chart, most likely well be watching the beginning of wave (3) taking us to higher highs and breaking this general downwards channel. Otherwise, the alternative scenario would be the continuation of this correction trend that could end at the 0.236 FIB of wave (1) .

Note

Note

I think this is an alternative senario for the short term, and it seems to me that its more plausible than the last analysis. Time will tell.

Note

The previous pic is obviously on the inverse scale, makes it easier to spot waves. Some mind bending for one to consider.

Amr-Fadl

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