Possible ending scenario for the Bitcoin LowsRelative new to the theories of Elliot, however this is a scenario that seems to be playing out.
Hope someone with some more experience could comment on this idea, thanks in advance.
335
GOLD (XAUUSD) - NEW SWING IDEAAfter we reached the target at 1740 and 1720 (1740 - 1680 area ) from my previus idea (attached here), I would say that a beautiful wave 4 made of an inside ABCDE ( 3 3 3 3 3 waves) strucure might be in competition (or already completed), in that mentioned area.
But looking at the formation of this last leg down I would say that this could looks also as a wave 3 (wave 3, YES!! :D ), so I'm starting to play around this new exciting big idea and i drawed the extensions and retracements aaaaand...
here is the idea: a formation of 3 3 5 waves in wich we are into the wave 3!!!!!
This wouldnt have any impact in the bull count of the gigantic wave 4 before the last up move, so would be completely possibile in a bull scenario. Enjoy!
Long Story Short (Part 3)While I've analyzed ETH/USD I realized that we could be in a WXY sequence, but due to disproportionate measurements by fib I can understand we may be at SUPER CYCLE ABC correction.
If we will take a closer look at RED 'C' wave, we will notice it is a structure of 5 sub count wave as it spouses to be:
One closer look at the last 5th wave will unfold an extended 3rd wave in Yellow which his sub count in thin RED:
By this analysis, we are getting closer to the period of time which the big Impuls will ignite a new bull's period.
Bitcoin in Distribution wave2 leading towards falling below $9k?Looks to me like we are in a complex compression.
Originally I thought we finished a double three (Flat - ZZ - contracting triangle) but after the latest upthrust I feel as if we are in a more complex pattern.
Thinking we are on our way down to $10k to finish a flat before going 3 up and then working our way below $9k with a zig zag either in a more complex WXY or WXYXZ.
Possibly to $7800 or even $6500
sellers are losing control as momentum dies outo Massive divergence
o ichimoku is still sell however
the indicators are showing reversal
o if its a reversal 335 is the target
