used time machine to bring you this cant say anything more due to the rules of Time Patrol
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Possible channel. Fib time zones are very accurate tool. Do they show us possible time of 5th wave up top? Maybe
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4hr EMA200 might act as support. Similar as on previous rally
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Dejavu
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Above similar patern didnt worked. Still expecting the bounce from the primal 4th wave target around 7200. ITs 4hr EMA 200 and daily ema34
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Breakdown through 7200 area is bad. Seems we are more bearish than I thought. Looking fo 6800 level now where weekly support pivot is and 0.618 fib level. We might bounce from here already but I dont expect this bounce to be strong. Bear flag will be created most likely.
Had this idea earlier but the top wasnt going exactly as planned so I drop it. Wish I stick to it longer
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short term possible waves
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My current view of the possible scenarios.
The green Elliot Waves count was my previous count of my earlier bull idea. Now, it is less likely to happen but I can still see it as possibility so I leave it in case it will develop into something similar.
Bear scenario will lead us to 6k level again. Look for the possible flag patern (blue). Might be a sign of bear behind the corner
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Thought we're in a channel but 4th wave was too short so I think we're rather inside a falling wedge (bullish formation):
which also seems to be a right leg of bullish crab. After it finish it we should see a retrace bounce up
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Bulls showed up but they showed up too early on my chart. Indicators on daily, 12h and 4hr are all looking bullish so we might stay bullish for today but price didnt went to my target. Not sure if waves are completed. Still could form a bear flag and 4th wave here so am not too much bullish yet
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descending broadening wedge fits even better
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I checked proportions and it might be bearish shark. End of it would meet resistance at 4hr EMA 200 around 3,4hr ichi clouds
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Here is the final idea for this short term waves. Bearish shark inside a bullish crab
You can see a clear bull flag forming on the 4 hour. I'm thinking that we could possibly get one more move up to around 8800-9000 before we continue with the bearish trend on the Day chart.
I think BTC is below the breakdown and awaiting a throwback on the way down. Another redistribution around $6000-$6700 level before heading to $5200-5300 range. I could be wrong, but not so far....
In case if this turns bullish again, BTC still may be in an uptrend and is currently in wave 4. Wave 4 is still valid upto $6850. As long as that level stays, $9200 is still possible.
DeadSerious
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@doctorkesh, I know about Wyckoff, drew it today, but thanks