Bitcoin channel trading

Many important lines confluence around ~12k which seems to be target for the 5th wave of this run (1-2-3-4-5 we're doing now is the big third).

We also reached our new fib time zone which usually signals entry to another price cycle. It can signal some change in the trend

Acording to this, some price correction might occur after reaching ~12k levels

This is not investment advice. Trade at Your own risk

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Price got through our target and showed us true form of the channel we were trading - ascending broadening wedge. We're sitting on the edge here at the end of the 5th Elliot wave which are bear trend change signals
tradingview.com/x/ymzhxd4J/If this is the top this could be making diamond top formation pattern. Here is the fractal from previous ATH top

Could it be top before some more serious correction? Maybe

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Weekly is a bearish doji star. It can get ugly pretty https://fast.https://www.tradingview.com/x/L6HdcYWn

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Crazy bull attack or bear gentle correction?

We climbed straight to golden ratio fib retracement but bitcoin prefer craziness and trend is still bull so we stay bull until proven wrong.

I don't know if we're building triangle continuation right now but shape and my wave count showing potential for such scenario so I placed it on chart

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Its triangleing as we thought. Lets see what it will do on a bold trendline where the real test should be

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Correction time imo

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Short term diamond patern

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In case the diamond break down the big triangle is my next pattern to watch

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If price doesn't drop soon, we might be in a bigger triangle

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I also wanted to say this consolidation is very boring but for me interesting to watch beacause I like fractals and the movement is very similar in structure to what we have seen not so much time ago. Behaviour is clearly the same to some point. Not saying it will do the same but its interesting that waves to some point are repeating themselves in such manner. What do you think?

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We fell from big triangle starting some bigger correction trend. How it might develop here I think it might look like this in bear case. So basically we might be building a bigger bear flag. I have bull scenario too but Im on the bear side to the end of the year.

DeadSerious

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DeadSerious