Short

BITCOIN - Not a Triangle! Still a Double Three!!!

Updated

This correction might not be over. We have already completed pattern 3-3-5 Flat Correction, Primary Structure - Double Zig-Zag in Intermediate (W). Then we completed what looks to be a large ABC pattern or Wave X and is developing, Intermediate (Y) - Expectations and Minor degree ABC sequence. A "Double Three" will complete one corrective wave pattern, or there is also something called a Triple three which has a corrective pattern, X Wave, corrective pattern, X Wave, and then ends on the third corrective pattern.

Will probably wait and just add more longs to my position at the bottom of the Zig Zag if that plays out. Yes, very possibly around $8,500 ( BTC1! ) CME OPENING GAP *** At any rate, like always, this is not advice, just one person's opinion of the current chart situation.

I am not Bearish long term. I am a Bull. A new Bull run will start with a very aggressive and impulsive 5 wave move up. We have not seen that yet. I just have not been able to line it up with a valid impulsive pattern yet.

The first target is around $9,100 (As there is much support in that area and where many shorts may start to cover and many bulls begin scaling in long). Other point (retangle green) marks the CME futures GAP and target full fibo 1.236%, or target complete 1.618% to retracement

I am not Bearish long term. I am a Bull of Bulls.

Elliott Wave Double Three Combination
elliottwave-forecast.com/elliottwave/elliott-wave-theory-structure-a-double-three-combination/

Bearish | SELL Levels

Entry @ 11100.00 SL @ 12299.00

TP @ 9300 / 9100.00 / /8500 / 7500.00

Bullish | BUY Levels

Entry @9100 / 8500 / 7500.00 (or Market Price) with SL @ 5800.00

TP @ 10500.00 / 9500.00 / 7500.00 / 10000.00 / 14000.00 / 16500.00 / 18000.00 / 21000.00 / 25000.00 / 30000.00 / 35000.00

Safety Measures:
Moving SL to beak-even when in the green.

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or this Plan B

COMBINATIONS (DOUBLE AND TRIPLE THREES)

Elliott called sideways combinations of corrective patterns “double threes" and “triple threes." While a single three is any zigzag or flat, a triangle is an allowable final component of such combinations and in this context is called a "three." A double or triple three, then, is a combination of simpler types of corrections, including the various types of zigzags, flats and triangles. Their occurrence appears to be the flat correction's way of extending sideways action. As with double and triple zigzags, each simple corrective pattern is labeled W, Y and Z. The reactionary waves, labeled X, can take the shape of any corrective pattern but are most commonly zigzags.

For the most part, double threes and triple threes are horizontal in character. One reason for this trait is that there is never more than one zigzag in a combination. Neither is there more than one triangle. Recall that triangles occurring alone precede the final movement of a larger trend. Combinations appear to recognize this character and sport triangles only as the final wave in a double or triple three.

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COME ON FELLAS!
Get ready

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Good Luck!

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Target level

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Good morning ... it still works! Wave Y is at stake! We see a triangle at the end (ABCDE)
The question of 1M dollars! We have a GAP against a weekly average of 20MA. Where the wave Y (9k - 20MA) or GAP CME (8500) ends.

elliottwave.net/educational/basictenets/basics3.htm

COMBINATIONS DOUBLE THREES

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Guidelines

• Special type of motive wave which appears as subdivision of wave 5 in an impulse or subdivision of wave C in a zigzag
• The ending diagonal is a subdivision of wave 5 in an impulse. or In the ending diagonal is a subdivision of wave C in a zigzag
• Ending diagonal is usually characterized by overlapping wave 1 and 4 and also by the wedge shape.
• The subdivision of an ending diagonal is 3-3-3-3-3

Trade active

Plan D

I will update a new study soon. Sorry for anything. Thanks!

ferGOD

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