Just an update guys, on the Fork in the Road. I've cleaned up the chart a bit, and added labels to help everyone read this easier. I was confident BTC 3.50%would try and test the bottom of the one year trend line (log), and gave up on that yesterday ... should not have. Patience is key! Also I've adjusted the slopes of wave 4 and 5 to be a bit shallower than 2 and 3, respectively. Timing is almost impossible to determine, unless you are a big market player and have the keys to the car.
This means Scenario 1 is not off the table just yet. Given the recent spike, wave 5 can settle at 7200, but I do see some traders stating 6800 is possible. Chances of going to 6800 on wave 5 are definitely tanking after this latest spike to test the underside of the 1Y trend. In fact Scenario 2 is definitely increasing in probability, with a double bottom , to cause BTC 3.50%to test the all time high trend, and then start a new impulse wave down to the abyss. I still say a 6k retest, and return to bull market. I know many expect 4k or 5k ... cannot be discarded, for sure. Only a fool would bet on one possible scenario, especially with BTC 3.50%.
Until next time, over and out!
As always, I am not an expert, do not rely on my advice. This is for educational purposes only.
This means Scenario 1 is not off the table just yet. Given the recent spike, wave 5 can settle at 7200, but I do see some traders stating 6800 is possible. Chances of going to 6800 on wave 5 are definitely tanking after this latest spike to test the underside of the 1Y trend. In fact Scenario 2 is definitely increasing in probability, with a double bottom , to cause BTC 3.50%to test the all time high trend, and then start a new impulse wave down to the abyss. I still say a 6k retest, and return to bull market. I know many expect 4k or 5k ... cannot be discarded, for sure. Only a fool would bet on one possible scenario, especially with BTC 3.50%.
Until next time, over and out!
As always, I am not an expert, do not rely on my advice. This is for educational purposes only.