This is a detailed WXYXZ count of the BTCUSD 12hr chart.
It is similar to the daily chart except the 12 hr chart offers some clues as to labelling the wave counts.
The chart is zoomed in from the X-Y-X-Z, with clear counts of three degrees.
The important message is that wave Z now has a valid 5-3-5 zigzag, which could potentially mark the end of a correction.
- Not on the chart:
Weekly RSI is hovering over 40 which was the previous support + bullish reversal boundary (re; constance brown RSi rule). Unless the weekly RSI40 support is broken & we break below $5755 to invalid my count, I am biased that the correction is over.
It is similar to the daily chart except the 12 hr chart offers some clues as to labelling the wave counts.
The chart is zoomed in from the X-Y-X-Z, with clear counts of three degrees.
The important message is that wave Z now has a valid 5-3-5 zigzag, which could potentially mark the end of a correction.
- Not on the chart:
Weekly RSI is hovering over 40 which was the previous support + bullish reversal boundary (re; constance brown RSi rule). Unless the weekly RSI40 support is broken & we break below $5755 to invalid my count, I am biased that the correction is over.
