BTC is clearly in a wave A leading diagonal. Price should slowly rise through the summer through a series of overlapping waves, until it reaches about 36k. I am short term long.
Everything in crypto appears to be in a diagonal. Ada is no different. The angle of ADA's diagonal is less than BTC and most other cryptos. This means that ADA will probably not break 50cents before BTC has its first major correction of the cycle. But when BTC corrects ADA should actually fair better. After the correction, ADA will have its moment. I am short term long.
Leading diagonals are subdivided into 3-3-3-3-3. This is clearly a leading diagonal, setting up to be wave 1 of a strong impulse to the upside taking the S&P 500. I am neutral at the moment, looking to enter a long position in the leading diagonal's wave 2 correction. Always remember diagonals have an increased chance of a truncated 5th wave so wave 5 may not ever...
After a leading diagonal wave 1 and a running flat wave 2, bitcoin's wave 3 will likely hit the 1.618 fib level taking it beyond resistance and setting it up to have a massive third wave through the first half of the summer that ultimately brings Bitcoin within the range of 58-64k
Technicals:
Looking at this chart reminds me greatly of Bitcoin’s top in 2021. After a 5-wave move down there was an ABC to new ATHs just overshooting wave 5, before a massive C wave. I have this as a grand supercycle wave 4 correction. It is setting up to be an expanded flat correction with a deep C wave. So my target for my C-wave is the 1.618 fib level of wave...
Here are the three prevailing wave counts out there for BTC
1. The COVID-low is wave 2 and the Nov 2021 High is a B-wave for an ABC
2. The COVID-low is part of the previous impulse's correction creating a Running flat where the Nov-2021 high is wave 5 of the 2020-2021 bull market.
3. The COVID-low is wave 2 of the bull market and the Nov 2021 high is wave 5.
I...
