We should now be in an impulsive move up on the way to break the ATH.
As we know nothing moves in a straight line, so Im expecting a smallish correction in and around the marked zone on the chart.
Once the impulse that breaks the ATH completes Ill be expecting a larger correction and a potential short trade, but for now, longs only please.
Updated where I think we are in the wave count.
Please note, the levels of the count wont be exact, its more just to map out the fractal wave counts to help us find out moves and open our trades.
Im still looking to short from 328 and buy back in at 235.
We have been stuck in this correction since around the 15th Jan. We have managed to make take a few successful trades catching the corrective impulses since then.
Although the pattern is slightly different then expected, it should still play out and we should see a drop below 235 to then start to look to load up to catch the larger impulse to break our ATH.
Price reacted from my higher zone and is now painting a corrective pattern for one more down.
This should complete the corrective impulsive C down ,into my buy zone for the larger move as explained in my previous post.
We closed our previous BSV trade in good profit once i saw the pattern develop a little more.
I now think that we were actually completing a larger B wave (rather then an A for the new trend up.) and we should see a final impulsive C wave down.
We should then be good to start the new series of waves up to break the ATH.
The two levels I expect the C wave to...
When trading bitcoin you always need a few scenerios, because it wasnt clear if we had originally broken the bottom of the original B wave, I always had two ideas in mind.
The 1st I posted yesterday, this is my other analysis.
Looking at the bigger picture, I believe we have been in a corrective move since July. Ive mapped out my chart and found the Daily buy zone.
We will now be looking for LONG trade on the lower time frames.