jeannek
Short

BTC Wave Count Update - Bounce first, then Daily WaveC breakdown

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I'm expecting a potential last small upwave (e), within the Daily triangle structure of abcde.
Last wave (e) may truncate/overshoot, given the FOMO nature of the newborn BTC market, I'm more biased to the later...

higher possibility of an overshoot to form a Bull Trap, triangle pattern gives 7800-8000 as upside target...before continuing down to form a higher degree Wave C, of an ABC correctional structure from 20,000 peak.

shall the 1st option fail to materialize, then a truncated wave (e) will take place instead, falling short of the 8,000 target.

Will update again as the wave progresses.

Comments

@tuamen - appreciate if you can share some ideas on this count? :)
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