Looking at the price action it seems like a down move is highly probable, but if its a corrective down move then we can expect an impulse back up. We can also view it as a bull flag for a move to the upside. Lets see how it plays out.
If the current price action is indeed the completed sub wave 2 of leg C then we are expecting a pullback. If the bulls are strong this will most probably be a running flat where price will take off from 9250. The next possibility is a deep pullback to 8015 for an expanded flat. Harmonics crab was observed for a shorting opportunity.
As of now we have to wait for...
If it’s a regular flat all waves meet the criteria and it’s ready for wave 5 to move up to 1.300
The only factor to note is that I don’t see divergence on the RSI between sub wave 3 & 5 of leg C. Let’s see how this plays out
Hi all, I have been showing bearish analysis of BTC for sometime now. However it is important to remain unbiased when it comes to the market.
When I reanalysis the chart I counted that the last drop of 3.8K could be the last bottom, wave 5, if this is true we are now in accumulation phase and waiting for a break to the upside. The Rising Wedge that we see now...
On the Weekly timeframe seems like B leg is completing soon assuming that its not an expanded flat which will create a new high (2k price range).
If Gold does plays out according to my analysis we could see Gold price fall much faster than we expected.
From Harmonics point of view 2 x Bat patterns were spotted, the smaller bat had achieved TP 1 with the low of...
Realised that the previous post have wrong labeling. Redo the labeling and remove the lines for better visual observation. To support my previous post, this was the wave count analysis which I did and what I see. Of course I maybe wrong so trade your plan. For the C leg, wave 5 could be extended, I am looking for an ending diagonal structure.
To support my previous post, this was the wave count analysis which I did and what I see. Of course I maybe wrong so trade your plan.
For the C leg, wave 5 could be extended, I am looking for an ending diagonal structure.