Hi, today I want to analyze Bitcoin 😊 from the first microwave that it made for itself. I tried to check out & analyze just Correction waves on this post( because I think that Bitcoin still is on Corrective structure). I am suggesting to you, please spend some minutes reading this post, maybe you will find useful information, also you can follow your road map with less stress. let's go👍
please read my post about the current situation of Bitcoin from ATH until now===topic''Bitcoin Analyze (Road Map)!!!🗺️'. as I said in this post, Bitcoin is on corrective structure (ZigZag Correction (5-3-5)) and we have to wait for the end of Main wave B.
Update:
Bitcoin Analyze ( BTCUSDT ) Timeframe 2W⏰
Bitcoin has started its main way from 😱 2.5$ 😱 (Who does have Bitcoin from this price or even less than it ❓) and saw 64895$ (ATH).
Location🌊: I have 2 scenarios for counting waves of Bitcoin:
First: Bitcoin is moving on 5 Impulsive Waves Without Extended waves.
Second: Bitcoin has completed waves 1 & 2 and now it is running on Main wave 3 which is an extended wave (more Possible).
I tried to choose the best items for checking out the correction waves. items are Corrective structure, Time (From the beginning of the wave to the end of the wave (Week)), Time Retracement, and Price Retracement.
items for each correction wave:
Microwave 2 of Main wave 1
Corrective Structure: Triangle
Time: 18 weeks
Time Retracement: 261.8% of microwave 1
Price Retracement: 38.2% of microwave 1
*Microwave 4 of Main wave 1
Corrective Structure: ZigZag
Time: 12 weeks
Time Retracement: 61.8% of microwave 3
Price Retracement: 38.2% of microwave 3
*Main wave 2
Corrective Structure: ZigZag
Time: 59 weeks
Time Retracement: 61.8% of Main Wave 1
Price Retracement: 38.2% of Main Wave 1
*Microwave 2 of Main wave 3
OR microwave 2 of microwave 1 of Main wave 3
Corrective Structure: ZigZag
Time: 8 weeks
Time Retracement: 18% of microwave 1
Price Retracement: 23.6% of microwave 1
*Microwave 4 of Main wave 3
OR microwave 4 of microwave 1 of Main wave 3
Corrective Structure: ZigZag
Time: 5 weeks
Time Retracement: 12% of microwave 1
Price Retracement: 23.6% of microwave 1
*Main wave 4
OR microwave 2 of Main wave 3
Corrective Structure: ZigZag
Time: 52 weeks
Time Retracement: 38.2% of microwave 1
Price Retracement: 38.2% of microwave 1
*microwave 2 of Main wave 5
OR microwave 2 of microwave 3 of Main wave 3
Corrective Structure: ZigZag
Time: 37 weeks
Time Retracement: 127.2 of microwave 1
Price Retracement: 78.6% of microwave 1
*microwave 4 of Main wave 5
OR microwave 4 of microwave 3 of Main wave 3
Corrective Structure: ZigZag
Time: ❓❓ weeks
Time Retracement: ❓❓ of microwave 3
Price Retracement: ❓❓ of microwave 3
🎯Aim🎯: Finding Answer the question marks 👆. for finding answers, we have to zoom on microwaves of each correction wave (A-B-C), but if I want to explain all my analysis here, it will be romance, so I'm trying to say just results of my analyze.
just see what did I do 😊 Can you decrypt❓ 👇
🎯Results🎯:
Corrective structure: all correctives structures were ZigZag, except microwave 2 of Main wave 1 == Triangle
Time: The time of each correction wave (same degree) close to each other (for example, main wave 2 =59 weeks, main wave 4 = 52 weeks)== since the time of microwave 2 of Main wave 5 =37, as result: time of microwave 4 of Main wave 5 can be between 30 until 35 weeks == 8 Nov 2021 until 13 Dec 2021✅
Time Retracement: 61.8% microwave 3 of Main wave 5 (without extended waves) == or ===61.8% microwave 3 of microwave 3 of Main wave 3 (if the Main wave 3 is extended) == 20 Dec 2021 ✅
Price Retracement: end of current corrective structure can be ==23.6% or 33% or 38.2 % microwave 3 of the Main wave 5 (without extended waves) == or ===61.8% microwave 3 of microwave 3 of Main wave 3 (if the Main wave 3 is extended) :
23.6% = 33300$ == probably structure of microwave C of microwave 4 of the main wave 5 (without extended waves) will be Ending Triangle ✅
33%-38.2% == 25550$ Until 22060$ == microwave C of microwave 4 of the main wave 5 (without extended waves)will have 5 microwaves.✅
TIP: microwave B of each corrections wave has retraced (price) 38.2% or 61.8%. at this moment Bitcoin passed 38.2% and I think that end of microwave B of microwave 4 of the main wave 5 (without extended waves) can be 61.8% ==51080$
in addition, if you pay attention to my chart, most of the time Bitcoin was able to react to Ascending Channel midline and now bitcoin is close to the midline. so we are expecting to react again.
RSI: RSI has important resistances in front of itself, and we can see Bearish Deep Crab 🦀 that it is working now, and I think that this bullish rally can finish with a symmetrical triangle on RSI. Daily Timeframe⏰ 👇
Thanks for reading this post, I hope that is useful for all.🌹🙏
My Suggestion: if you have Bitcoin, you have to think about taking profit from them Soon/ if you don't have coins, Don't be FOMO, probably time will give you another chance 👍😉.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅'like'✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
Comment
⋅
'Bitcoin Analyze (Road Map)!!!🗺️
Comment
⋅
New Post.👍
Comment
⋅
similarities❗️
❗️I think that current Weekly Candle will be CLOSE to Doji or even Engulfing (Candle with Red Body).❗️
as can be seen here, it is clearly a "leading diagonal (wedge) with RSI the highest in subwave 1 "
AND if it is an ending diagonal, that is normally not in wave B
is there a count to fit this diagonal in a B wave ?
pejman_zwin
⋅
@eenmakkie, Wave B is not ending diagonal, just 5 microwaves of microwave C of Main wave B can limit on Rising Wedge, on ending diagonal wave 1-3-5 have 3 microwaves (A-B-C). here 1-3-5 have 5 microawves .
eenmakkie
⋅
@pejman_zwin, thanks.
what correction wave are you naming this?
I do not see an ABC that has 5 microwaves in the B .
There are five types of corrective patterns:
• Zigzag (5-3-5)
• Flat (3-3-5)
• Triangle (3-3-3-3-3)
• Double three: A combination of two corrective patterns above
• Triple three: A combination of three corrective patterns above
Does it not need to be named a WXY then? as only the X "• Wave X can be any corrective structure"
I agree with your view, I just try to find a confirmation within EW counting rules for it for this clear 5 waves I see in the B, wondering if it does not has to be named as an impulse wave.
thanks in advance for your reply.
pejman_zwin
⋅
@eenmakkie, Main wave B is a flat (3-3-5) correction, as result, the microwave C of main wave B has to have 5 microwaves.
we don't have WXY in this corrective structure, I can not explain all, but please pay attention to waves degrees
pejman_zwin
⋅
@eenmakkie,
please PAY ATTENTION to the first point of main wave B(first point of the microwave a of Main wave B) AND microwave a & b of Main wave B .
eenmakkie
⋅
thanks @pejman_zwin fo the work to count also each subwave in time and % retracement
you gave 2 possible scenarios:
First: Bitcoin is moving on 5 Impulsive Waves Without Extended waves.
Second: Bitcoin has completed waves 1 & 2 and now it is running on Main wave 3 which is an extended wave (more Possible).
I think it is 5 Impulsive Waves with a much longer time frame for the 5th MAIN WAVE as the other impulse wave 1 and 3.
Why? Willy Woo who profound studies on-chain charts also said BTC is in its last MAIN cycle because the halving impact will be only 0.87% next time and that will be so small it won't have an impact any more on the price.
To get from a 4 year cycle to a macro economic cycle, there needs to be a transition stage and that is in the last MAIN cycle now the 5th .
Ok, so we know we will get a new ATH coming in this MAIN 5th wave.
But is the correction finished or not?
As I included you and the other EW counters in the 3 camps here
and the camp that thinks a correction MICROwave 4 still has to make the C leg down. as you and @Eloquent
I see you have adapted your view to what I wrote as a FLAT probably for this ABC correction of microwave 4.
FACTS:
Ok so last MAINWAVE cycle 5 is much longer in time, will be extended.
you have used LOG scale to calculate the FIB retracements of the correction waves.
the correction of MICROWAVE 4 to the low was shy of the 61.8% fib on linear scale but more as the 23,8%fib on log scale.
QUESTION 1:
do we need to use still LOG SCALE in this last 5th MAINwave to calculate the FIB corrections?
If BTC is in a transition from a 4 year cycle to a macro economic cycle, the impulses or the corrections will be smaller = linear scale soon.
As I wrote to @unbeldi the time of this correction microwave 4 is to short in relation to microwave 2 OF MAINWAVE 5.
Si I totally follow your theory here: "since the time of microwave 2 of Main wave 5 =37, as result: time of microwave 4 of Main wave 5 can be between 30 until 35 weeks == 8 Nov 2021 until 13 Dec 2021✅ "
Your date 8 Nov 2021 fall with the Taproot upgrade of the Bitcoin network what will be positive.
Your RSI analysis:
you make a perfect EW calculation that can explain the lower RSI level for the 3rd sub-wave of this B of microwave 4 of mainwave 5.
in the bullish camp where this wave is the first 1 wave of microwave 5 of mainwave 5 : the RSI in the subwave of this 1 should be highest in the subwave 3.
ON-CHAIN ANALYSIS CONFIRMS your view:
BTC NVT ratio is in overbought extreme levels because there is not a lot of on-chain activity compare to previous period when BTC was trading at 50k
ON-CHAIN activity will come with El Salvador.
eenmakkie
⋅
@pejman_zwin QUESTION: can you show the chart part of the top of MAINWAVE 3 how you did counted that?
I see you have an ABC with the C top at 10 may here
it looks more like an ending Diagonal in a wedge shape for subwave 5 of microwave 3 of main wave 5 as here: