- This is a bullish scenario for Bitcoin, if this scenario is wrong, then now we should see a small ABC to the upside (40-42k) and then another small 12345 Impulse down to 20-30k. - For now this huge ABC correction has been completed succesfullly, but we do not know yet, if this major ABC correction turns into 12345 Impulse to the downside. - The price is currently moving in the parallel channel on the daily timeframe. - We also have a bullish hammer on the daily / 3D chart and RSI is very low. - I think we are going to reach 40-42k in the near future before another threat can possibly come. - 95% of altcoins looks still terrible, only few will go higher, for example ATOM is a great choice.
yes, this is the bullish count long term ABC that is also possible. @Eloquent@stevepuri@unbeldi@pejman_zwin or mid term bullish, long term bearish is an 12345 down.
Guys, are there some clues we can see now that it is an ABC or the impulse 12345 ? I think both counts are valid for the EW rules. I think impulse and we are now making the (B) up
maybe only the speed of this uptrend will let us know if it is a (B) now correction of the drop. or a new impulse wave . let us know your opinion.
Eloquent
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@eenmakkie, your wave 5 can't end in a 3 wave move :^)