For BTCUSD in the Grand Major Time frame we seem to be in the 4th Wave which is a corrective wave. I believe this 4th Wave is unfolding as a Triangle Corrective Structure (3-3-3-3-3). Each Leg in the triangle usually forms in a 3 wave pattern hence the 3-3-3-3-3 formation. Within the mentioned triangle we are currently in the midst of completing its Leg D
As mentioned above the Leg's inside a Triangle usually form in a 3 wave pattern. As for Leg D we seem to be doing a Flat Structure as its 3 wave pattern. Within that Flat Structure we seem to have completed its Minor Leg A and Minor Leg B. What's left is Minor Leg C which should unfold in a 5 wave pattern downwards. This move should go at least till the bottom channel of the triangle.
Within the Minor Leg C which is expected to move in a 5 wave move down we seem to have completed its Wave 1. We are currently in the midst of completing its Wave 2. Wave 2 here seems to be unfolding as a Flat Structure as well. Therefore i believe we may see one more push up to complete the Flat Structure for Wave 2 before seeing another big drop for Wave 3 followed by a small retracement for Wave 4 and finally the last push down for Wave 5 to complete the Leg D of the triangle.
As mentioned above the Leg's inside a Triangle usually form in a 3 wave pattern. As for Leg D we seem to be doing a Flat Structure as its 3 wave pattern. Within that Flat Structure we seem to have completed its Minor Leg A and Minor Leg B. What's left is Minor Leg C which should unfold in a 5 wave pattern downwards. This move should go at least till the bottom channel of the triangle.
Within the Minor Leg C which is expected to move in a 5 wave move down we seem to have completed its Wave 1. We are currently in the midst of completing its Wave 2. Wave 2 here seems to be unfolding as a Flat Structure as well. Therefore i believe we may see one more push up to complete the Flat Structure for Wave 2 before seeing another big drop for Wave 3 followed by a small retracement for Wave 4 and finally the last push down for Wave 5 to complete the Leg D of the triangle.