BTC RUN OVER - WE WERE TRICKEDhavent seen anyone speak about this yet so validity can be called into question
it is possible that we have finished our cycle, which is actually a continuation from 2013 & 2017
a triple-three here shows how that could be possible with what we would of referred to as wave 4, taking for granted you have the tolerance to look at something this messy
inside the primary triple-three is another triple-three which is composed of zigzags, the only contingency that could be addressed is the fact that the 2nd wave (X) on the primary triple-three should be using 0.854 instead of 1.236 - we can easily use 0.654 after the impulse post-covid and we arrive at the same spot, its just that impulse needs to be evaluated (which probably includes inserting another complex correction somewhere)
could a correction of this complexity be honest or legit? human behaviour is odd
Triple-three
BTC, Two PossibilitiesHi everyone,
I've put together another two possibilities for BTC based on what we've seen in the past little while - one bullish and one bearish case, but both extremely dependent upon what we are currently doing.
This looks like BTC is forming a triangle at the moment (so far we've seen 3 and 3 monowaves for A and B, wave-C currently looks like it will follow suit with 3 and then D and E will follow). This is a very tricky count to make, because BTC is showing some signs of zigzags in this run up, but it also appears that it may be impulsive due to its strong similarity with Wave-1 impulse wave at the beginning of BTCs life.
If we are seeing a triple three, the correction for BTC is not over and there will be much more downside. If it IS complete, it appears that we may currently be in an extended Wave-3 and have significantly more upside before we correct for Wave-2.
Let's hope it's the second case, and I would love to see some insanely high price on BTC like $1 million.
This is the textbook sketch of a triple 3 correction, where the triangle actually acts as a reversal at the end of it, vs and continuation pattern on an impulsive.
gyazo.com
Triple Three Diagram borrowed from Glenn Neely's book "Mastering Elliott Waves" - it's a fantastic, extremely technical book that I highly recommend. Easily the best book on the subject and I can't imagine how much time Mr. Neely put into putting it together.
Good luck guys, around August 1st we should have some indication as to whether BTC will be continuing or if it needs more correction.