BTCUSD - It is in 5th of c of B wave up within correction and one more subwave up to end the correction. Thereafter C wave down expected. Sell below 17532 level with 5th wave high (about to unfold next) as stop level for target below 14500. After the B wave finishes, price should be quick down and not expected to be choppy. So if price remains choppy for 24-36 hours, then it may extend the B wave within complex correction.
so now it should slowly move down to 15k over the next several days?
that just seems so so very unlikely. i'll be watching.
EWFcw
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@prefabsprout, I just present my analysis, it doesn't mean it has to be unfold that way. and i am open to another option. As you know that in EW analysis, there is always some alternate counts possible in both the direction.
great analysis, thanks for sharing
have a look at my view on bitcoin
ferGOD
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Thanks for sharing !
ferGOD
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The 0.382% retracement of the decline continues to act as resistance. The substructure of the corrective move indicates could yield a move to the 0.236% retracement before rolling over further.
VT-2
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Blue wave (B) is impulse ?
EWFcw
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@vadimtemnikova, its double zigzag - check the smaller time frame.
VT-2
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@CycleWave, As of now, I'd rather treat it as impulse like this: There are some inaccuracies, but, in that case, it can be a diagonal. Anywayu, it clearly looks like impulse. And whole movement down as zig-zag:
EWFcw
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@vadimtemnikova, You can count that way, But in that case, that impulse can be the part of B wave as c subwave as flat running flat correction and C wave up as five wave.
Thanks for insight.
that just seems so so very unlikely. i'll be watching.