Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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4 scenarios I look for.
1st scenario is that we have finished 5 waves from 3500K bottom and we are in a long and deep correction. If so we have likely finished wave A and we are currently in a b wave (possibly a triangle) before we get a c wave down.
2nd scenario. we are in an ext. 5th wave, and we have completed wave 1 and 2. not the most likely scenario
3rd scenario: we are in a triangle, and have finished wave c and are currently in wave d. This scenario is not very likely, because the rsi does not support a triangle, but still a possibility.
4th scenario; we are in a flat correction and we are in on going c wave.
1st and 4th scenario I find the most likely at the moment.
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scenario 2
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scenario 3
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scenario 4
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I have this count on the bottom so far. Looks like we go up from here
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Messy waves. Are we building up a leading diagonal here?
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Looks to me that we are making a series of 1 st waves here.
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Shortterm. We are working on a diagonal up. A 1st wave ( or a c wave).
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Still in play
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Be Award that after we have finished the move up yo 43 k it might be a bearish wave up and not a series of 1st waves. Still a lot os ways this Can turn into. If 43 k gets hit we Can expect either deep wave 2 retracement or a berish impulse Down.
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Looks like a bullish ongoing impulse up.
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Move up was a triple zigzag. It cannot be a leading diagonal so it must be a corrective move. So looks like a bearish move Down. Not quite sure which pattern at play but Bull seems doubtfull at the moment unless 40.200 holds
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If we get s bearish wave Down this pattern might be in play
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If 40.2 holds we could still be bullish if its part of a leading diagonal
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Looks like the move up the blue is a leading diagonal. This might be a 1st wave of a c wave up. Still messy overlapping waves for now
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Messy waves but it looks like an ongoing impulse so far
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Updated count
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Still a bit messy. We did a zigzag up. Current wave count from bottom is either a corrective move up ( double zigzag the blue abc) or wave 1 and 3 of an unfinished leading diagonal up.