BTCUSD to $9250 before rebound. See past posts for more.
Comment: REVISED
Comment:
Comment: For my primary wave count:
Comment: Zoomed in look of the (abc) and recent price action:
Comment: My micro count for this impulse down:


So long as we do not breach $10430 we are on track for new local lows.
Trade active: Morning update
Trade closed: target reached
Comment: It should be noted, even if this is the bottom it is not uncommon for price to correct past the low of the impulse temporarily. I'm keeping some bids in the $695-$685 range.
Comment: ^^ Forgot to change it from my ETH post, $8800-$9000 bids for BTC
Comment: Need to hold above $8392
As usual, good stuff mate!
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Manifested AsyrafDaud
@AsyrafDaud, Thank you, thank you
+1 Reply
Oh man, you're a sharpshooter! Nailed that analysis. A+

Do you have a tip jar?
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@befunkt, Ha, never been asked that before! Updated my status with addresses if you feel so inclined. Glad you enjoyed my analysis!
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befunkt Manifested
@Manifested, Dinner's on me. Thanks again!
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Just wondering what you thought about the run-up to 11k before this dip did you have it charted as a 12345. Im not quite an experienced elliot wave charter. Ive read books and know the rules its just this is confusing until someone clarifies.
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cryptadd cryptadd
@cryptadd, Like what happened most recently we were on a 12345 up to 13k and then 4 died out. What would that be called if you have this knowledge? Thanks :)
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@cryptadd, Great question, I just threw this together because I couldn't find my saved version, see my most recent update for my larger time frame count. As for the run up you're talking about, my leading theory is that it was a wave b of this flat ABC we are about to complete, either of wave (ii) or of (a), not sure yet. I wasn't convinced it was an impulse wave and then the diagonal showed itself and I was then pretty sure it was just an ending diagonal for wave b.

See here:

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cryptadd Manifested
@Manifested, I guess I need to study a bit more. I know about flats but it looked like a 12345 and I thought we were going to complete a wave 4 but it formed this thing. I got so confused so I went into the tradingview ideas section and found yours most comprehensive. Thanks for this-this actually helps so much! Following you for more stuff like this :)
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@cryptadd, That's great to hear, I'm glad you got some value out of this stuff. I learn new stuff everyday, it's a process, but it comes together over time.
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