Bitcoin: Double Zigzag or Triple Zigzag? | Elliott Wave AnalysisIn this analysis, the primary focus is identifying the corrective structure that has been developing since Bitcoin's recent all-time high. Based on the current wave count and the Elliott Wave Principle, the price action continues to resemble the complex Zigzag family. The key question, however, is whether the market is developing a Double Zigzag or extending into a Triple Zigzag.
Under the aggressive scenario, the preferred interpretation continues to favor the development of a Triple Zigzag. From this perspective, any corrective pattern forming at the current price region—whether a Simple Zigzag or a more complex corrective structure—may represent nothing more than Wave (X). If this wave count is correct, the market would still require another Zigzag to complete Wave (Z), implying that another decline should be expected once the current corrective phase is complete.
On the other hand, the conservative scenario assumes that the larger correction may have already ended as a Double Zigzag, with Wave (II) now complete. If price confirms a valid impulsive structure while respecting the 50%–61.8% Fibonacci retracement zone, the probability that a new bullish cycle has begun would increase significantly.
At the current stage, the red-circled region represents the market's decision zone. The price action and wave structure that develop within this area will determine which of these two scenarios gains the upper hand.
As with every Elliott Wave study, this is a structural interpretation of the market—not a price prediction. As long as the rules and guidelines of the Elliott Wave Principle continue to support these wave counts, both scenarios remain valid.
Ultimately, the market itself will determine which structure unfolds.
We do not predict price—we follow the structure the market builds.
— Mr. Nobody
Independent Elliott Wave Principle Researcher
"Patterns whisper. I listen." 📊🎧
Bitcoin
Jul 25
Bitcoin: Wave (V) Begins or a Larger Zigzag Continues? | Elliott
SPCX Elliott Wave AnalysisDouble Zigzag Completed or One More Leg Down Before Wave 3?
SPCX is a newly listed Nasdaq stock with a limited price history, making its wave structure much easier to monitor than older, more complex charts. Since there isn't enough historical data to rely on long-term market cycles, Elliott Wave analysis and price action currently provide one of the clearest frameworks for evaluating the next major move.
As always, this analysis presents probabilities rather than certainties. The market will ultimately decide which scenario becomes valid.
This idea was shared previously, and so far the primary wave count remains intact.
After printing a high at $225.61, price entered a corrective phase. My primary count labels the decline as a Double Zigzag (W-X-Y) consisting of seven swings. The current recovery also appears to be developing as another corrective structure from the Zigzag family, with the potential to evolve into a Triple Zigzag if additional complexity is required.
Should this scenario play out, I expect one more decline after the current correction completes, allowing price to finish a larger corrective sequence and complete the overall eight-wave cycle shown on the chart. The highlighted support zones represent the most likely areas where this correction could terminate.
However, there is another scenario that deserves equal attention.
The entire decline may have already completed as a Triple Zigzag, meaning the market could now be building a series of nested 1-2, 1-2, and 1-2 structures across multiple degrees. If that interpretation proves correct, a confirmed breakout above $225.61, followed by a healthy pullback, would significantly increase the probability that SPCX is entering a higher-degree Wave (3)—typically the strongest and most impulsive phase of an Elliott Wave cycle.
For now, both scenarios remain valid.
The key confirmation level is $225.61. A decisive break above this high would strongly favor the bullish count, while rejection below it would keep the larger corrective structure in play.
As always, let the market confirm the wave count—not the other way around.
Key Levels
🔹 Bullish Confirmation: Above $225.61
🔹 Current Bias: Neutral until confirmation
🔹 Primary Structure: Double Zigzag
🔹 Alternate Structure: Triple Zigzag → Nested 1-2 setup
🔹 Focus: Watch the corrective channel and market reaction around key resistance.
Patterns whisper. I listen.
— Mr. Nobody 🎧📊
Space Exploration Technologies Corp.
3 days ago
SpaceX: Impulsive Breakout or Structural Correction?
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ETHUSD and Crypto Signaling Risk On?So typically for equities I use the one hour, but when it comes to crypto being that a trading day is 4x a typical day for equities, I use the 4 hour. The one thing about my momentum indicator, is that forward testing has indicated that the longer a trade survives, the more likely it is to win! This one looks like we have a double bottom in the works as it approaches the neckline. If it can breakout, instead of testing that take profit, we are likely to smash thru it. I guess patience pays...
The signal was created by the King Trading Momentum Strategy combines the 5 EMA crossing above the 13 EMA, RSI strength, favorable momentum as measured by ADX plus evaluating recent volume changes and even something that measures breakout momentum called Beta for some equities! ETHUSD and over 100 equities are built into this script, as well as, BTCUSD and SOLUSD with optimal backtest take profits and stop losses and can be toggled on by simply checking a box (default they are turned off). I always enable Using Bar Magnifier and On Bar Close in Properties. 
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