BitcoinShort
Scratch that last idea. I've solved the case.
Updated
Okay so I've been racking my brain all day because of how BTCUSD started the morning off with a 5 wave up followed by a 5 wave down without it being a major top. The answer, it was an A wave of larger degree with the b wave of A being a zig-zag. This was just confirmed by our retrace to the 84.5% mark. Flats require B to retrace 90% of A, so although it does not confirm 100% the zig-zag, until the 90% mark is crossed it cannot be a flat. I'm probably more excited about this than you, but here are the target.
Wave (c) of B down to $8100-$8000. Then wave C could honestly be in a much wider range than this, but I would be fairly confident it falls somewhere within this range: $8550-$8350, based on the two most likely B targets.
I'm posting this as Short because our immediate target is short, and I believe we have further downside to see as well. I had to post this on small time frames to show the sub-wave structures.
Wave (c) of B down to $8100-$8000. Then wave C could honestly be in a much wider range than this, but I would be fairly confident it falls somewhere within this range: $8550-$8350, based on the two most likely B targets.
I'm posting this as Short because our immediate target is short, and I believe we have further downside to see as well. I had to post this on small time frames to show the sub-wave structures.
Note
Forgot to mention the "triangle" I saw was actually (I think) an ending diagonal for wave circle C of b.Note
I also just noticed that wave circle a of a has already retraced over 90%, making it all the more likely that the larger abc is a flat, confirming our wave c targets as well.Note
Trade closed: target reached
Just got back from vacation. We hit overshot the first target by a small margin and now are sitting within the second one. I'll post an update once I get a chance to look at the chart in more depth, but this is where we find out if this was in-fact corrective, with more downside to come or if we are impulsive on the wave up. We want to see three waves down now into a strong, high-volume third wave up of larger degree.
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