📝💰 Due to the chart, BTC would form three probable patterns:
1. Running Flat
2. Running Triangle
3. Expanded Flat
The PRZ zone is the area I've specified by using Fibonacci. So collapsing is certain, but...
Running flat and expanded flat have impulse formation but running triangle not (A-B-C formation). Since wave 4 is often a triangle, so A-B-C is more...
BTC chart probably will form a triangle pattern and then a short upward impulse will be formed after completing the correction pattern.
But after the impulse wave, collapsing will be started for wave C of either a regular flat or a triangle.
As you see the chart above, I think there is 2 other scenarios which tell us:
1. I want to form an "expanded flat" pattern
2. I can be a "running triangle" pattern too
So due to the scenarios above, a huge bearish wave would be appear on the chart.
If you've followed me, my previous analysis on BTC was correct and an upward movement called wave X happened.
The wave X generally is formed by an A-B-C pattern and now it's within wave C and sometimes wave C is formed by a pattern called ending diagonal.
So based on previous analysis and current status of BTC chart, I think after 2 downward and upward waves, next...
As you see the chart above, due to absurd upward movement of BTC, I think this correction is a complex one and the upward movement is a X wave.
So I think by considering Fibonacci ratios and probable reverse zone, it can return from the zone I've specified. It probably forms a triangle in the wave Y but we must watch it at least for now.
If you've checked my profile, it's forming the triangle I said.
There are two little upward and downward movements in the triangle for wave D and E.
After completing the triangle, it begins the main upward movement.
So stay tuned!
I've posted the collapsing scenario and its probable route.
But this one is different. Due to the chart above and sideways trend BTC has formed, I think this one is powerful too and after triangle portion completion it makes a upward movement.
As you see, due to my latest analysis on BTC.D, I said it would collapse and you're watching now what happened.
Still a downward wave 5 has been remained. Therefore you should expect a collapsing!
Reference link to my latest analysis on BTC.D which I've mentioned:
In fact, I think TOTAL index is within wave 4.
So it's going to begin wave 5 but it's early!
Regularly wave 4 has a timing correction and due to "dynamic trading" strategy, it must reach itself to 38.2% of the Fibonacci time.
None of them has been happened until now.