It looks like we possibly finished a expanded flat for wave 4, we took out the lows + perfectly hit the correct fibs.
I believe there is a scenario for the next (maybe final) impulse before a bigger pullback.
Targets 54k-55k (1:1)
> Invalidation is clear...
Once we came above the last high the large WXY got invalidated.
The initial wxy I shared was correct after all. (end of wave 4)
I'm currently tracking this count which places us in wave 5 (of the larger 3rd possibly).
Invalidation is clear for me.
Don't focus on the white line.
This is my Bitcoin view in the longer term. (EW)
I zoomed out to get a better perspective where we could be in the larger picture.
I was able to get a clear count in the bitcoin log scale chart, which makes me believe we still are in a larger big wave 4 correction.
A very complex wave 4 correction but possible as the large wave 2 was pretty simple.
My EW count is bearish. (short term)
Expecting a dead cat bounce from here, retest 9k with rejection seems likely and then continue to the downside.
I really think we can clear the $8200 area, nice buying opportunity imo.
I also tried making a bullish scenario but its pretty ugly tbh. (highly unlikely)
This is my bearish scenario for the short term if true, we are completing the wave 4 of the big impulse going down and expect one more wave down (5)
Invalid above the red box.
Im conflicted between my bullish scenario and bearish.
Tbh feeling more bearish as the count makes more sence.
Time will tell!
Looking for litlle more correction before we start our way back up to make our new btc high.
Buy the dip.
Attention: bearish case we close the daily below the 200Day MA ($8785) we might be looking to drop lower, 8k area mostlikely (golden pocket)
Here's my view on BTC, as we are correcting im keeping a close eye on the reaction at the $9170 monthly level and the 0.382 Fib level.
Hopefully we can get a nice bounce of these levels to continue the bull trend.
Time will tell.