Hello and welcome to my trading idea.
By analyzing the possible future developments of the BTC / USD pair, I have identified two possible scenarios. Let's go and analyze them.
Scenario 1 (Short)
In the first scenario, we have what I call the "C Wave" of a flat expanded, as shown in the graph.
After the 5-wave impulse which I consider to be the fifth wave of the third wave (the conclusion then), we have this correction which is structured as an extended flat. We have wave A which appears to be a corrective wave. Wave B also follows this mode. Wave C, as expected in the final waves of flats, appears to be an impulse.
Usually, the C waves of extended flats extend 1,618 fibo of the A and B waves. Here, however, this threshold has been exceeded. I therefore expect an extension up to a maximum of 2,618 fibo.
Let us now analyze the final impulse.
Wave 3 appears to be extended 1.618 with respect to wave 1 and 2. This would make it possible to consider wave 3 as extended. Wave 3 and wave 1 could be configured as pulses. As a result, we have such a situation:
So I look for the short up to almost that target area.
Scenario 2 (Long)
In this second scenario, the impulse ended in the highlighted area. We therefore have such a situation:
The zig zag correction of the previous impulse ended. I remember that, according to my count, this correction turns out to be the fourth wave of the largest movement. A well-known Elliott rule of principles says that usually corrections, especially if they are fourth waves, end at the lowest level of the fourth wave of the impulse by a lesser degree of generality (in this case the fourth wave of the largest 3 wave) . Looking closely at the graph, we are on that level:
So I could define the correction finished.
However, this has an implication.
Within this area, we should have the start of the new impulse. But looking at the graph, it doesn't seem to me that this is the case. Indeed, in my opinion we are in the presence of a lateral movement, destined to go down again. We will see in the next few days ...
Thank you for your time.
By analyzing the possible future developments of the BTC / USD pair, I have identified two possible scenarios. Let's go and analyze them.
Scenario 1 (Short)
In the first scenario, we have what I call the "C Wave" of a flat expanded, as shown in the graph.
After the 5-wave impulse which I consider to be the fifth wave of the third wave (the conclusion then), we have this correction which is structured as an extended flat. We have wave A which appears to be a corrective wave. Wave B also follows this mode. Wave C, as expected in the final waves of flats, appears to be an impulse.
Usually, the C waves of extended flats extend 1,618 fibo of the A and B waves. Here, however, this threshold has been exceeded. I therefore expect an extension up to a maximum of 2,618 fibo.
Let us now analyze the final impulse.
Wave 3 appears to be extended 1.618 with respect to wave 1 and 2. This would make it possible to consider wave 3 as extended. Wave 3 and wave 1 could be configured as pulses. As a result, we have such a situation:
So I look for the short up to almost that target area.
Scenario 2 (Long)
The zig zag correction of the previous impulse ended. I remember that, according to my count, this correction turns out to be the fourth wave of the largest movement. A well-known Elliott rule of principles says that usually corrections, especially if they are fourth waves, end at the lowest level of the fourth wave of the impulse by a lesser degree of generality (in this case the fourth wave of the largest 3 wave) . Looking closely at the graph, we are on that level:
So I could define the correction finished.
However, this has an implication.
Within this area, we should have the start of the new impulse. But looking at the graph, it doesn't seem to me that this is the case. Indeed, in my opinion we are in the presence of a lateral movement, destined to go down again. We will see in the next few days ...
Thank you for your time.
