Analysis for complex of complex of complex of COMPLEX

b of b of b of B of 4 of 1
32900 leads to 20200 then ~39k
White line is invalidation
"Patience is virtue of kings"

Comment:

there are lots of levels in this area: 32300_32600
i think this resistance does not easily fail also i think we are inside an ending diagonal which leads to a sharp decline

Comment:

there are lots of valid looking nodes and possible labeling yet touching the mentioned area is a necessity so lets wait and watch
a very excellent character of the wave principal is that it can think about itself like knowing if it is b of b then waves are labyrinth, i was very scary from b of b and now it is another level deeper so i keep my head down and wait for the heart of minotaur which is likely to be the that area

Comment:

if 32500 is broken then this is what i got for my top down analysis also i am waiting for 32500, if this scenario is in development it takes some time to touch 29500
there are lots of guidelines broken to say we are in 4th of c of b of b of B of 4 of 1 so i am open for other probabilities

Comment:

invalidation is 30120
this is a zigzag not the 1 of next impulse and i expect it to touch the 29400-29600
it is not wise to trade these waves untill it is at the end of the wave which is around 32900

Comment:

if 29500 is broken then there will be no new high and if it is broken it means fib based top down analysis do not work well in these waves so the ending point of c of b of B of 4 of 1 will be based on down top analysis ... for now a good news is that ranges are corrective in the wave principle and i do not label the current range because i know it is not healthy to do so there might be another impulse, i just think it is 4th of c of b of b of B of 4 of 1
lets see what is the next surprise

Comment:

if 28900 was broken i will say down top analysis confirms because i think it can be a good turning point by considering all i can see on the chart also if it is broken then there is no reason to think we are in 4th wave of an impulse which is gonna end at around 32900, i will be blind for awhile in that case because my higher degree labels will fail
this analysis is playing chess with guidelines not relying on them
good bye my friends

Comment:

i was busy with another chart for hours to find the suitable labeling then i noticed a big potential drop on that so i saw some correlation on btc ... as you know these are not tradable waves for ellioticians and i did not try to solve two jigsaw fractal puzzle at the same time ...
i am relying on top down analysis for btc so i am waiting to see it somewhere close to 32600_32900, if this flat is in play then then the path could be what you see

Comment:

the b wave of my flat for my previous update was an X wave ... the correction is ending so this pattern is worthy of taking risk for ellioticians top down analysis does never fail unless we are in some pattern for example btc had to finish 5 of 3 of 1 at higher than 70k, but it did not and could not touch the 1.618 of the first wave and now 4 of 1 is heading to 0.5 which is deep so we will observe an extended 5 of 1 which is 1.618 of starting of 1 to ending of 3 then we will retrace at least to 0.618 of that extended fifth, for the record we can not say any extended wave is the longest in duration and has one more level of subwaves compared to equivalent waves which can apply to 3 of 1, 3 of 1 is longest in duration and has one more level of subwaves while the fifth is going to be extended because 4 of 1 is deep and 3 of 1 is just close to 1.618 of 1 of 1... this pattern does not mean we can apply down top analysis we are going to around 32900

Order cancelled