Whilst the last 2 charts on BTCUSD published are highlighting intermediate term bearish with potential move down to retest the low at 450 and longer term will revert to new bullish move over longer term, I am seeing small scale "Flat Wave" in the short term under progression and feel that I should publish that chart.
So in this you will see 3-3-5 wave from current congestion which may have been calling it descending triangle, perhaps incorrectly. If this unfolds as flat, then you will have the opportunity to see live how the price forms such 3-3-5 correction with high being formed around 1100-1150 zone. Don't be too rigid about the actual price zone noted, except by that time you need to be able to see clear 5 waves to the upside completing around there or on either side.
The it will give you confidence of the larger "Flat Wave" described in my previous 2 charts also could unfold similarly.
For greater explanation and understanding of this type of patter and EW analysis you can view 2 recordings on Youtube which you can find at the following links:
www.youtube.com/watch?v=7XB2CDRQ...
www.youtube.com/watch?v=6Q4SZsJA...
Hope you enjoy this and help you plan your trades ahead of time with specific observation to look out for final entry and exits.
As always, please don't follow blindly and use good money management to ensure that should we be wrong the loss could be well defined before entry.
For those of you who have asked me for link for making donation, you can do that at the link: 1Q1jYasGiJxvvYNX2KwwmX8KGoXRMu9rAW
So in this you will see 3-3-5 wave from current congestion which may have been calling it descending triangle, perhaps incorrectly. If this unfolds as flat, then you will have the opportunity to see live how the price forms such 3-3-5 correction with high being formed around 1100-1150 zone. Don't be too rigid about the actual price zone noted, except by that time you need to be able to see clear 5 waves to the upside completing around there or on either side.
The it will give you confidence of the larger "Flat Wave" described in my previous 2 charts also could unfold similarly.
For greater explanation and understanding of this type of patter and EW analysis you can view 2 recordings on Youtube which you can find at the following links:
www.youtube.com/watch?v=7XB2CDRQ...
www.youtube.com/watch?v=6Q4SZsJA...
Hope you enjoy this and help you plan your trades ahead of time with specific observation to look out for final entry and exits.
As always, please don't follow blindly and use good money management to ensure that should we be wrong the loss could be well defined before entry.
For those of you who have asked me for link for making donation, you can do that at the link: 1Q1jYasGiJxvvYNX2KwwmX8KGoXRMu9rAW