the ichimoku point to lower level, we can draw a channel to it which nicely the middle line of it work, i am really appreciate giving your opinion about these chart, especially analytics who do it's analysis on elliot wave.
there is no divergences or reversal sign in ichimoku, so as i found all of the market will goes a bit lower but there is triangle which broke so the price can pullback to it.
if all the condition will correct and i think correctly, the most probable target would be 32k area and lower ones are mentioned in the chart.
@chihchiang6666, there are 3 model scenarios for btc(the most probable), bearish plan which it can surge to under 32k, I mean 10k .bullish plan, 30-32 then 70-76 then 35-40 again and then jump up, bullish plan 2, it can not reach to 30-32k, from 40k btc bounce back to higher level. it need to pass the time, to interpret btc is on which plan.
Does that mean whatever analysis you posted will fail upon the fall of BTC?
meteortrader
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@almarouf, yes after checking the ichimoku cloud, i try to define a proper elliot wave prospective for upcoming btc manner. in the past i think btc will see 48k and goes to 88 to 104k(a WXY formation in B wave), but by these sharp movement which is really similar to 3rd wave of an impulse wave(c wave) and with continuation on downtrend which i see in ichimoku cloud in bigger timeframe,i decide to interpret that, we are in final leg of a flat correction.
i said always, i am trader as others and i share my idea about markets to help the people. definitely, i make a mistake on my analysis because i am like others. i will share what i am thinking and it can change through the time because i am an interpreter or analyzer.
almarouf
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@meteortrader Thank you very much for keeping us updated. None expected what just happened.