Last week, I got an idea about BTC to keep going on the accumulation period and will not easy to come back the uptrend following many serious events in this year (FED, Russia & Ukraine, Inflation, Midterm election...).
But in the old idea, I still got the feeling that it was not right because of some complex waves in Elliot and also on-chain data following CQ.
Yesterday and today, I have been spending more time looking back again, and now it seems to be quite appropriate for combining an expanded flat wave (irregular) and a triangle pattern.
This complex chart belongs to Double Three in Elliot theories. It is a sideways combination of two corrective patterns. I’ve already looked at several corrective patterns including zigzag, flat, and triangle. When two of these corrective patterns are combined together, we get a double three. (W-X-Y)
Irregular Flat Wave: From March to July 2021, Any three a-b-c during July to December 2021 Triangle: From December until now and next months.
I hope this idea can be interesting to BTC traders and holders.