WaveThreeOfThree

WaveThreeOfThree

BTC is probably featuring a flat correction with an expanding ending diagonal C wave. If this is indeed the case, the next dip at 70k would be the end of the correction. It might chop around the 80k area for several days/weeks, as the cousin waves (i) and (iii) lasted about 20 days. Of course, it is possible for wave (v) to be shorter in duration, but this is not...

WaveThreeOfThree

This is the long term count I've been following since early 2023. In the meantime, we can now say that BTC is indeed working an extended 5th wave, and here is a probable path for the latest subdivisions of purple wave (5). The maximum bullrun line on 380k is just a possible maximum under this count. But I don't believe BTC will go that high.

WaveThreeOfThree

Here is my long term Elliott wave count for BTC. Under this count, it would be working an extended 5th wave. The guideline states that wave 5 of 5 is the one likely to be extended. It is too early to say where the bullrun could end, but 380k can't be exceeded under this interpretation becauce wave III would become the shortest. The breakout above the 30-32k area...

WaveThreeOfThree

Here is a middle term view of BTC. I am following 2 counts. The first one would be the 1-2-1-2 count in pink, which would be a "little three big three" setup. I like it because: 1) Both 2nd waves would display sharp corrections. 2) The slope of the 2nd second wave would be less than first wave 2. 3) The 2nd second wave lasts longer than the first wave 2, which...

WaveThreeOfThree

I think BTC has probably bottomed back in november 2022, completing a flat pattern for wave 4. I like the fact wave 4 retraces 50% of wave 3 and I find the overall pattern looks pretty clean. I always keep other possibilities in mind but this scenario appears to be the most probable to me at this stage.

WaveThreeOfThree

This impulse wave to the upside was either wave 1 of a new bull market or A of a zigzag. I still have a slight preference for the bearish scenario right now.

WaveThreeOfThree

Given recent price action, I have updated the operative wave count. I think we have a completed impulse wave to the downside now. Two solutions: either this is all of wave 5 and we are starting a new bull market, or this was only wave 1 of 5 and we are starting wave 2 of 5, which could bring us back to 22kish now. I’m leaning towards the 1 of 5 interpretation. In...

WaveThreeOfThree Updated 

Wave 5 of C of the flat could also be truncated and look like this. It can't fall below the 1 extension, otherwise, wave 3 would be the shortest.

WaveThreeOfThree

The ATH was in 2018 and not in 2021. This is why I label this wave up as wave (A) and not (1); the long term trend might be bearish. But the wave (C) higher might have enormous potential, it should at least go back to the extreme of wave A or its neighbourhood. Wave 5 of C of (B) is on the way. Wait for confirming price action before acting.

WaveThreeOfThree Updated 

BTC 5th wave of C of a flat. The alternate is, we break below 14k and negate the bigger picture 4th wave. The 14k area is key.