Hi Every, what did you do these days ?! did you take profits from the market or just Watching Charts & ideas?
Today I want to Count the waves that we are seeing on our Ascending Channel, and find where is the end of this beautiful Ralley😊 ?!
Bitcoin Analyze ( BTCUSDT ) Timeframe 4h⏰
First, If you want to know about my analysis for Daily Timeframe, Please visit my previous post ''Bitcoin Analyze (Daily)!!!''.
Location🌊: My idea, Bitcoin is Still on Corrective structure and it didn't start New 5 Impulsive waves, so the waves that are seeing on Ascending Channel have Corrective Structure (A-B-C).
Wave A: it has started from 29280$ until 42600$== Structure of Wave A == 5 microwaves == So we could understand, we will have a Zigzag correction (5-3-5).
Wave B: it has started from 42600$ until 37330$== Structure of Wave B == 3 microwaves (Falling Wedge).
Wave C: it has started from 42600$ until ?? = Structure of Wave C == 5 microwaves.
Where is the End of Wave C? (Regarding the end Time of wave C, we can find the end of wave C at TRZ)
Scenario 1: If wave B is a triangle or Wedge, there is a higher chance that wave C may only reach the 61.8% extension target ==45564$ == Around current Price == More Possible
Scenario 2: Waves A and C of a correction tend towards equality (same size 100%) ==50652$
My Suggestion: If price can break our Heave Resistance you can open Long Positions and your take profit will be around 50652$// If the price is starting to go DOWN from the current price zone, then you can find triggers for opening Short Positions.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe.
question : so your 3rd and 4th small wave on your 3rd macro wave I have an issue maybe I'm misinterrupting but wouldn't we actually be on the 5th wave macro since if you look at your 3rd and 4th we have 2 diagonals with the 2 correctional abcs leaning me to think your 3rd and 4th is actually our 5 and we are now in the 5th major and 1st leg of the 5th major
pejman_zwin
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@GioThaKingo, Thanks for sharing your idea, everyone can count waves, but we haven't to fail the main 3 rules. if you find mistakes that I failed rules, please say me, otherwise, we can not deal together on one especial counting waves.
GioThaKingo
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@pejman_zwin, well you don't really have a 5th wave and then a 3 correction if you look at your 3rd and 4th wave closely so making it invalid
pejman_zwin
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@GioThaKingo, I did not specify waves before starting the main wave A, I know what did I do😀, but again thanks for sharing your idea.💐🙏, let's what will happen.
GioThaKingo
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@pejman_zwin, also thank you for even answering me : )