As we can see on the chart, WXY pattern is clear with an irregular X wave (because of yesterday's Fed news), but still valid and didn't break the low of wave W.
A contracting triangle is forms wave B in the ABC pattern for wave W, even if a huge wick went out of it: closing above the downside of the triangle, this candle on H1 shows that the setup was still valid...
From April 2021 until now, BTCUSDT looks like an Irregular Flat, And wave C looks like an Impulse wave downtrend, Target price is around 25,000$, Its correction looks fine with the irregular flat rule. Feel free to comment and correct me if I do wrong, no Ego here.
Not sure it will end in Trending or Terminal Impulse, Diagonal or Small X Wave
BINANCE:BTCUSDTPERP...
IMO we are running an irregular/expended abc correction after the meme frenzy with wish. In combination with real meme stocks crush what I see is a lot of forced liquidations and retail exiting their positions due to lack of capital ( most of them all leveraged). Take also into consideration the massive options expiration this week.
Therefore I expect a massive...
Explained my thesis in the chart. I'm starting to read some articles and have found a good amount of conflicting points. CEO letter to shareholders the 9th seems pretty possitive. No debt, cash reserves, and a healthy amount of revenue. Seems as if this C wave is happening on account of dilution via direct offering. Maybe we will see this get beat down a few more...
PING AN detailing complex Correction with ''WXY'' combination in which "W" is an irregular FLAT (3-3-5) wave structure.
Regards, Team Traders "PowerfulTraders" flat
The USDJPY currency pair has created a possible corrective movement that looks like an irregular correction labeled as ABC. In this type of corrective waves the wave B breaks the low of the recent impulse wave and wave C breaks the top of wave A.
Such a correction may have been creating on the USDJPY. What is more, if the line drawn through the bottoms is broken...
B-D a perfect Fibo 1.618 extension to 1.05 x X-A in double top. This is extremely Bearish. Megaphone pattern suggests continuation of correction to tar zone ~27600.
Might expect a last push to ATH in April after target zone achieved. We got divergence in Transports DJT and Russel 2k RUT, both lower with mixed markets- toppy!
This is not investing advice; post is...
