discobiscuit

discobiscuit

Three wave corrective structure in green ellipse, three wave corrective structure in blue ellipse, price action off low of 4462.25 is just starting (red ellipse) but looks impulsive.

discobiscuit

Green ellipse contains price action that appears impulsive down, corrective up after low of 4487 yesterday. Odds favor further downside, with at least one more impulse wave down.

discobiscuit

Proposed completed impulse off 31829.00 high, although where the 5 goes is up to interpretation (in one of the two blue circles). Where the 5 goes will help determine whether price action off 11 Sept low will end up being impulsive or corrective.

discobiscuit

Ellipses shown group proposed sub-wave structures. Price action within red ellipse could be interpreted as one impulse wave or a zigzag. Area in rectangle contains most of the volume traded since 27 July (distribution?). Impulsive price action today; how that evolves over the next week or two will likely reveal how the price action in the red impulse should be...

discobiscuit

Move up from 7 Sept low looks corrective. Blue ellipse contains a regular flat, green ellipse contains an expanded flat, and red ellipse looks like a double combo.

discobiscuit

Blue ellipse does not have the look or typical wave structure of an expanding leading diagonal. I think a bear rally is more likely, with the rally nearing completion or part of a larger corrective structure. This count shows the red ellipse as a complete regular flat and the green ellipse as a complete expanded flat.

discobiscuit

Not much clarity presented with today's price action, other than the expanded flat (blue ellipse) is complete. Price action in red ellipse is corrective; bears will hope for continuation below 7 Sept low next week, bulls will hope that a leading diagonal emerges.

discobiscuit

Analysis shows completed impulse waves in blue and corrective waves in red. Impulse wave in green may be done or may have more to go. Currently, I'd favor that these structures all fit together as one impulse wave down, but too early to rule out more bearish possibilities.

discobiscuit

Price action overnight certainly opens the possibility of another leg down that, as a buyer, I would be interested in. If low of 7 Sept holds, then larger corrective structure (off 7 Sept low) in play. Count shown accommodates another leg down.

discobiscuit

I see a series of corrective structures after 18 August low. Blue ellipse contains expanded flat that, more than likely, is complete. Bounce off 7 September low (red ellipse) does not look impulsive. Will wait for more price action to provide clarity before entry.

discobiscuit

Looking at wave 1 of 5 of A to be complete or near completion. The bounce after completion will be 🔑.

discobiscuit

Impulse wave down from ATH of 69k, wave C of wave 4 correction to complete 28-32k, looking for wave 5 to be sub-10k. Wave 3 is shorter than wave 1, so wave 5 would be shorter than wave 3. Wave 5 would complete impulse wave C of expanded flat that started in Feb '21. Analysis invalid if BTCUSD breaks above wave 1 bottom of 32933.33.

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Updated count. Looking for bulls to take us to 46-49k before final move below 29k to complete the primary 4 as an ABC expanded flat.

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Proposed current EW count, subwave 1 and 2 of final primary wave 5 complete, working on wave 1 of subwave 3. I expect the primary wave 5 to end $8k-10k.

discobiscuit

Completed count with technical top, from ATL to ATH, extended fifth wave from March 2020 low, 200% of the move from ATL to year 2000 ATH.

discobiscuit

My current BTCUSD EW count. Primary 4th wave complete, 5th wave currently underway.