As I see we are ending the wave 2 of c of (C) and now we are at 0.618 of wave 1
And I think it ready to fall deeper.
Movement upward above beginning of wave 1 will invalidate it.
Your thoughts and comments are appreciated.
As I mentioned in my last analytics
BTC made dropdown in expected direction. Now I am trying to figure out its' nearest targets.
1. The main scenario is correction (A)(B)(C)
2. Alternate is triangle ABCDE
All targets on the chart with their description. Let me know your thoughts about it
Let's complicate this situation little further :)
All is explained on the chart. What do you think ? Could it be ? Most questions I see in wave A-B as it looks like impulse, but not ABC. But who knows..
Not an advise, just thoughts. Your comments are appreciated.
As we have had wave (3) extended, then wave (5) can't be extended. So it has to be between 0.382-0,618 of wave (3) .
So targets are square areas on the chart. Let me know what you think about it.
That only my thought. Not advice.
1. Main. We are in correction WXY and forming leg Y as impulse downward
2. Alternate. We are in correction ABCDE and ending leg C
Can't say sharp at this moment which one takes place. Need time and further price action
What do you think ?
(All above is just my thoughts)