Hey guys!
As the time goes, BTCUSD chart gives more information.
In the big picture, Elliott Wave Theory works pretty well. At least, so far so good!
Now, I see 3 possible scenarios to follow.
Scenario 1: Wave 4 might have been completed at 33K meaning that wave 4 formed a running flat correction. So, I would expect BTCUSD to see the cycle peak at the end of wave 5.
Scenario 2: Wave 4 still goes on and trying to finalize a triangle correction. Then, I would expect to see 52-55K first (Point D), then a reduction to 38-40K (Point E). After this a triangle correction will be completed and we should see the last impulse wave of this cycle.
Scenario 3: Wave 4 still goes on and it would form an expanding flat correction. So, I would first expect to see 52-55K and then go lower than 33K probably around 24-26K area. Then wave 4 will be completed and the last impulse wave will begin and will see the current cycle peak. This scenario would bring a huge fear in the market; however, this would be the biggest opportunity to make the biggest profit!
I'm not trying guess which scenario will occur, I spend my time to get prepared for such scenarios and create strategies accordingly!
These are all my ideas and not a financial advise.
Please do your own research.
Cheers!
As the time goes, BTCUSD chart gives more information.
In the big picture, Elliott Wave Theory works pretty well. At least, so far so good!
Now, I see 3 possible scenarios to follow.
Scenario 1: Wave 4 might have been completed at 33K meaning that wave 4 formed a running flat correction. So, I would expect BTCUSD to see the cycle peak at the end of wave 5.
Scenario 2: Wave 4 still goes on and trying to finalize a triangle correction. Then, I would expect to see 52-55K first (Point D), then a reduction to 38-40K (Point E). After this a triangle correction will be completed and we should see the last impulse wave of this cycle.
Scenario 3: Wave 4 still goes on and it would form an expanding flat correction. So, I would first expect to see 52-55K and then go lower than 33K probably around 24-26K area. Then wave 4 will be completed and the last impulse wave will begin and will see the current cycle peak. This scenario would bring a huge fear in the market; however, this would be the biggest opportunity to make the biggest profit!
I'm not trying guess which scenario will occur, I spend my time to get prepared for such scenarios and create strategies accordingly!
These are all my ideas and not a financial advise.
Please do your own research.
Cheers!