This is our primary count for BTC at the moment but it can be easily invalidated if the pennant breaks up. The RR is very good for shorting right now because the invalidation is just above the C pivot , where you can switch from short to long. Or you can keep it simple and just trade the breakout.
On the daily TF the 50 Day MA is showing resistance.
On the daily TF the 50 Day MA is showing resistance.
Comment:
It seems that we are in the WXY scenario.
It seems that we are in the WXY scenario.
2nd count, a little bit different but it has the same outcome - another leg down
3rd count where we have a truncated 5th wave and a WXY correction. X can be any type of corrective pattern, so if it's a zig-zag with B as a triangle it will have the same outcome as the counts from above but if it's a triangle it will break up and top out between 4380-4537 or 4770-4975