Update on previous idea from November.
BTC is a standard corrective pattern for its 4th wave and has clear price action within a trend based fib extension.
This chart is no indicator of time.
Bullish count;
Wave C has completed a standard 1:1 of Wave A which can be seen as a completed flat corrective pattern, and we may now proceed to completing its 5th impulse...
moving as expected and am watching a move to the downside soon
looking to complete wave c 5 waves down at a 1:1 of wave a and looking for confirmation of a running flat of a 3-3-5 move overall
however a push above upper trendline with closing and confirming the trend line as support is a possibility
a move lower to the 1.236, 1.382 or 1.618 is still technically...
very much new to TA, looking for critique
looking at ending wave 4 around 33k to 34k with 5 waves down comfirming a running flat
moving to the upside with continuation with overall wave 5
looking at finishing wave 4 abc correction to a 1:1 of wave a at around $1.6 trillion mid-end of dec, then proceeding to finish wave 5 towards the end of 2022.
i believe bnb is still in correction and will end its wave 4 and 5 in the purple boxes
this is just context and of course a personal view in its current standing in the current market
actual prices and timelines are impossible to give this early
this will of course be hugely dependant on the fundamentals and perception of binance
posting for me to keep track of as a possibility but thought i'd share it publicly.
wave c has possibly already finished with last dip but always keep an open mind with orders ready for dips.
