Hard to tell with how BTC can be and just keep extending waves on waves on waves
the downfall to #elliottwavetheory is that once in an impulse there is no telling how extended a move can go and thus determining the exact point of reversal can be challenging. That is when you use other tools to aid your proposed idea. The best way to determine if the move is complete is how you correct and what you sweep if any. We have swept a pretty important in the med term so this is why i belive we are due for sub 10k minimum . After that is where we will monitor the charts rigorously to see if this proposal is true.
If BTC is to challenge this idea we must see some very significant buy back on the next move down (if we get it i am targeting sub 10k)
If the buy back is strong enough then we will throw out this idea and then say subwave 5 of major wave 1 is going to extend and run us to 20k, hard to beleive at this point though but i wont be blind sided by the move if it presents itself.
IMO #alts have suffered enough and many are down >80% thus i think its time... for #altseason
BTC must range for this to happen and i think this will be the most likely scenario moving forward
FIRST we need some shorts to exit which i think they will on this next small move up (wont clear highs before sub 10k to stay true)
IF WE DO CORRECT HOW WE CORRECT AND THE TIME ASPECT WILL BE TELLING IF WE HAVE BEGUN A NEW BULL RUN TO 30K BTC
If we have a long long complex correction similar to June 18'- Oct 18' then we are not in a new bull run and this chart will be re-evaluated for a more complex corrective phase
short term -
med term -
long term -
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CHEERS , lets keep it rocking
only one way this blows the top off and thats with a new bull run to 20k
pattern evolved differently but arrived at the same point
13111.24 was hit but 13244.11 was missed by mere dollars with the high @ 13202.68
I think this happens next
buyer anything under 9k stop at 8.7 looking to play X wave
Big BIG coming week for my entire prediction
So far the pattern assumed has been spot on only difference is the expansion of X in price was much weaker than i assumed
Here is the update cheers
in chronological order
Need i say more??
remember how i mentioned initially we can be in a W4 ?
Well we happened to have just made a terminating structure (WXY) right in the appropriate time frame we look for
Need i say more?
currently in the orange B wave but im thinking we put in an X wave rather than a B .
New thread coming .