After finishing a time-killing move within its recent Expanded Flat formation, Bitcoin has now entered what seems to be an Extended Diagonal/Wedge/Wyckoff/Wolfe Wave pattern down to the lows between 21K-25K.
The internal Wolfe Wave in the pending Wave 5 is not shown on this chart however waves have confirmed that this is already in motion (the DSTC will deliver updates on this internal action).
The pending fractal will not allow for new entries to remain profitable for too much time as the waves are due to overlap in volatile fashion. For traders who are determined to jump in on the waves, its best to get in and get out relatively quick. An even better idea would be to use the near real-time analysis which I'll be sharing within the DSTC.
As for macro moves, this should be the main takeaway, "Bitcoin has not bottomed out until it reaches the levels of $21-25K. Lastly, Wyckoff and Wolfe Waves are both knockoffs as the great Ralph Nelson Elliott first outlined this concept :)
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update to this internal Wave 5 -- (currently in sub-prime Wave 4 of its progression)
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BTC could also swing to these levels instead (a less dramatic version of the wavemap directly above this one…)
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A smaller iteration of Wave 4 has come and gone —- Wave 5 of 5 has also snuck in as an Extended Diagonal Wave —
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Return to 30K now primed. This is not resistance.
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my read of the internal wave form was total debauchery however, lower level targets are yet in line.
the internal wave is actually in impulsive form, contrary to my idea of it being within a diagona/wyckoff/wedge pattern.
its very easy to misjudge a flat correction in Wave 2 as an overall 3 swing move for Wave 1. i have since found indication that the diagonal is invalid however.
the extended flat in Wave 2 makes room for Wave 3 to be extended, which it is as we can now see.
a flat correction in Wave 2 also means that we should get a quick, simple upside correction in Wave 4. likely to play out over the next 2-3 trading days.
our final leg down to $21-25K comes afterwards ---
The end of wave 4 is at 32855 and then it goes down.
DigitalSurfTrading
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@gestoert, I thought pretty much the same all upside patterns have been finished in this segment. (c) wave of the previous flat correction came in a sneaky expanded flat formation. We are stuck under 30K for weeks. We could touch the zone again for sure but nothing above 30K will hold imo.