I assume the price is already in wave 5 of the impulse to the downside
- yesterday we've got the wave 1 of 5 and now are in the wave 2 of 5 (deep pullback, typical for the second waves)
- on the h4 t/f the basic assumptions/ rules for the impulse according to EWA are in place (sequence of corrective waves (zigzag vs flat, no overlap, channel working perfectly with...
If we are observing a first wave down, that has broken the trendline, than a nice entry will be after a pullback in w2
Normally, wave 2 is a deep pullback, typically a zigzag
Minimum requirements for a reversal are met, as per my criteria (prior level tested), but, as an alternative scenario, we may observe the price trying to test FE 100 in a wave c (c = 100% of...
One of potential scenarios for the Bitcoin - assumes the reversal at approx. current levels.
My wave markings provide for the completion of the double zigzag as shown on the chart, where the 100% projection for the wave Z hits exactly $7K
Will watch for a reversal pattern at nearby area and will enter with a reasonable SL
Good luck and have a nice week-end!
A beautiful 5 waves structure, amazingly meeting key requirements for the Fibo distances and channeling
Expecting the pair to go into a meaningful correction before the similar move down upon completion
My view on potential price trajectory among the variety of alternative paths as of now.
Need to test 6k before the reversal, again - before going deeper to test 4k
New highs (at least, test of 20k) only after a complete correction.
To my mind, there is no way of going up to the skies right now, forget about that. Those happy people who have bought these coins...
There is a correlation.
quite a while I've been watching the price, especially challenging has been eurgbp.
I think it will test 0,903 (October last year) and reverse to the downside.
As a confirmation I take two pairs that move reversed in line (+/-) and there are two leading diagonals (expanding vs regular) with a clear abc corrections.
Have a nice...