Bitcoin Midterm Analysis --> WXYXZ Corrective Waves

BITTREX:BTCUSDT   Bitcoin / Tether
Bitcoin mid term analysis.

As I do think that we’ve finished our ABC correction (check the overview chart on TradingView for that too), I do think we’re currently going into a WXYXZ sideways corrective combination. Why do I think that? Well, that’s simple. We can’t go in to impulse waves straight from the ABC correction. The same way that you’ve seen Wyckoff combinations on the bottom and top each cycle.

This is called the triple three pattern with the WXYXZ combinations, we’re you mostly see 3 wave patterns.

The levels of the W and Y + X’s are mostly based on the Fibonacci levels and the plain conclusion on this is that we’ll be moving towards ATH’s at the end of this year, as I don’t think that the overview 5th wave is over, just that the 3rd and 4th are done yet.

Let’s see how this one goes, will update quite often!
not bad
+1 Reply
Do you really think BTC will not hit 12k until around september? A bit pessimistic, wouldnt you say? Are the timelines accurate or did you stretch your graph for more clarity?

Thanks for the analysis
+2 Reply
@kash27, Don't pin me on the timeframe. Could be that we're at the first bottom way faster than expected.
kash27 MichaelvandePoppe
@MichaelvandePoppe, Timeframe is really the only thing that matters at this point lol
@kash27, Then search for somebody who can chart on price and timeline --> that's god.
+1 Reply
Hard to read your chart ... maybe use different colors for those waves!! thanks
@zabed, Thanks man! Will keep an eye on that.
Is this the accumulation phase of btc for next bull run?
@lrs1995, Yes
+1 Reply
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