I wonder if we do start the bigger correction now or do move back up from here and make new highs.
HTF Potential Target : 30K (0.382 fib)
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So far I'm still under the impression we are in wave 4 (looking at the subdivisions) But its a really complex one and not getting the initial sell pressure I first expected. we have not reached any significant fib level yet.
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It is looking corrective on the subdivisions but inside some kind of rising wedge/triangle. (not what I expected since wave 2 was not deep/short.)
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This looks more like it. Overall the structure is not looking bearish and I do expect a break out to the upside soon.
Trade closed: target reached
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We did get the big correction after all, right in the green box *Magic*
"exaclty as predicted" from you 5th April sketch.
*you're a legend mate*
hulk78
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Sorry for the 'dumb' Q...
Meaning the positing (III)(V)(5) should shift to the right?
Younez
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@hulk78, No, actually I'm not moving it yet as the subdivisions look more corrective I still think wave 3 is done and currecntly working on the wave 4.
hulk78
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@Younez, Thank you for replying and adding the sketch to the "idea".
ElectricMonday
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Great analysis! Few see this fall of bitcoin as a possible bigger correction, just now I was looking for someone who had a similar idea in mind. Thanks for sharing it :)
intoxiktu
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Amazing analysis. 10/10
Are you still expecting a .382 pullback for wave 4? Has the ending diagonal and the 5-3-5 correction changed anything on a HTF (we'd be at a .382 if 65 would be the top of wave 3)?
Much appreciated.