Current estimate for the end of the Zig Zag playing out in a combination
(Flat with failed B leg, any three, zig zag, potential wxyxz)
The Flat having a failed B leg created a Falling Three Peaks
Looks to me like we are finishing up the Any Three X leg of a WXY.
Thinking we will see a Zig Zag rapidly dropping us to $7250
Falling Three Peaks playing out. Channel holding strong.
Estimating next Third Impulse up begins August 26th
Estimate established early...
Have been studying, learning and viewing the charts.
Hoping to share this idea as a current view of the market from a student.
Feeling that the run from $3000 to $13800 may have found exhaustion.
If we break above the 50 ema on the hourly chart around $11600 then I think it is possible
that we are finishing a triangle in sub wave 4 before the last...
Looks to me like we are in a complex compression.
Originally I thought we finished a double three (Flat - ZZ - contracting triangle) but after the latest upthrust I feel as if we are in a more complex pattern.
Thinking we are on our way down to $10k to finish a flat before going 3 up and then working our way below $9k with a zig zag either in a more complex WXY...
Looks like we have formed a flat top rising bottom pennant.
From what i am reading is
Absorption at higher level reaccumulation stepping stone with shakeout
Estimating that we are entering Phase D and we will soon see a mark up that will test resistance levels
Estimating that we are in Phase D of reaccumilation stepping stone and that we could fall back to the level where we jumped the creek (broke previous demand line) before a sign of strength and a mark up.
Seeing as today is a dump day for BTC -7.03% , its possible we are seeing a bullish Gartley pattern with possible Wolfe Wave
Hoping to enter around $8700+ and take profit between $11600-13500+
Posting this because of noticing the rapid decline and suspecting we are no longer in an Elliott wave pattern
Short term bearish , long term bullish but this is one of...
Bull flag only half complete? Moving towards point 3 of giant Wolfe wave?
Also we have not retraced back yet to 50-62% for a corrective wave.
I suspect a short lived bull run back towards the historic resitance trend line
then back down to $8000-9000
I traded the corrective wave to have a (5-3-5) ABC (5-3-5) pattern
and we seem to be in the ABC pattern now of the...
Looks like we are getting closer to the end of the large Bull pennant made from the corrective wave.
Target entry will be mid day February 26th with entries between
$8900-9000 for 50% retracement
$8200-8500 for 62% retracement
Profit should hopefully be taken March 12th at about $14500
I am just learning and sharing idea's hoping to learn more
Lets assume that since the bottom
We have seen a major Elliott Wave forming and we are in the firs major corrective wave.
In the first wave we have seen 5 sub waves and are currently in sub wave C of the corrective wave
Its possible that we will see a massive Wolfe wave push us up into a reversal
pushed up further by a massive bull pennant forming
I have been watching the price of BTC and LTC lately as they went through a bull flag
while comparing BTC to LTC during the fluctuations and noticing that
LTC has been pumping harder then BTC lately which makes me feel LTC will outperform BTC in the short term.
If BTC and LTC move towards a double bull flag Wolfe wave then we can see the same...