I shared in the past my opinion about the difficulty of applying TA to BTSUSD because we see alot of extension and combination structure.
I have to say to I have worked hard on this one cheking the chart and looking my books for 2 hours now.
Ok so lets start here.
1-last time we talked i said this corrective pattern seems finish :
A flat corrective pattern. Im 150% this is a . Ive looking this upside down and this part was a
(flat corr. patt. : https://d.stockcharts.com/school/data/me...)
2- The question that I ask myself for some hours is why the hell the outcome didnt meet the pattern. What am i missing (30 min past counting at the chart, still suyre as hell that it was a flat corrective pattern). There must be a combination, there is something that i dont know and that i must know *sound of book opening*
2.1- The flat pattern finished with a 1-5 wave, this is a standard structure to name it C (C are made of 1-5 sub wave).
2.2- After the flat. We made an instead of an impulsive wave up. Normally we should have had an impulse wave up, because when the correction is over the momentum resume
2.3- only WXY combination or double have in the middle. So my guess is flat + combination with bullihs outcome.
Note that im not sure about the wave of our current retracement but i will update once im sure of the reversal point