Short

Bitcoin in Distribution wave2 leading towards falling below $9k?

Updated

Looks to me like we are in a complex compression.
Originally I thought we finished a double three (Flat - ZZ - contracting triangle) but after the latest upthrust I feel as if we are in a more complex pattern.
Thinking we are on our way down to 10k to finish a flat before going 3 up and then working our way below 9k with a zig zag either in a more complex WXY or WXYXZ.
Possibly to $7800 or even $6500

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Thinking we are first making an expanding flat and that we are about to go to 9k before a bounce for 3 up.
I still think its possible we will bounce at 10k but im leaning more towards an expanding flat.

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Not an expanding flat as B isnt higher then buying climax in phase A so back to thinking 10k will be the flat bottom

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There doesnt seem to be more then one zig zag in a combination so last chart was wrong and deleted. Still learning and trying to understand this pattern. I know we could be "Back Up against Creek" but I feel this correction will take us lower

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Spening as much time as I can outside of work trying to establish an understanding of current behavior.
Still thinking we are in a sub wave 2 correction pattern.
Thinking Flat - Any Three - Zig Zag
Reading "W2 is uaually a ZZ or ZZ combo"
With the WXY ending at $6600 is what I am thinking.
Targets for W are 9150ish (high chance) and $8400 (low chance)

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Another potential estimate

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My fib ratio's were wrong due to being set to Log scale

KondrackiKarl

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