It would appear we have completed a wave 1 leading diagonal. The real question is how much of a retrace will we get here... BTC has a history of shallow wave 2's so at the most I would think that 40k level would be the last chance to get tickets to the moon.
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Right on track to hit target.
There is a possibility that the previous low holds but I would only give it a 12% probability considering how the corrective wave structure would have had to end during the elon pump. But it did pivot nicely off the .382 of the most recent low.
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Well today has me recounting and try to decide. Market seems to feel the same way. after watching the double fake on that triangle.
Still thinking the leading diag. is likely but it could go 3-3-3-3-5, not 3-3-3-3-3 like I have it labeled currently. However the 3-3-5 flat correction is still in play for tomorrow. Gotta love wave 5 sub waves, makes an interesting puzzle.
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this would be my target for a 3-3-3-3-5. That 52,000 area is the -.236 and considering the leading diag. rule that would make since. Now 3rd count puts the next stop at 64,000. So I'm more than happy to trail this structure with a stop at this point and see what happens.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.