The Bullish Count. Although not likely, is possible.
Here is my bullish count and fib analysis.
We've completed a clear impulse wave in 5, and now are correcting in the final C wave. The C has blown past the .50, and now we're looking for the golden pocket trade. If we see a reaction upwards in the golden box drawn, we have an 80% chance of retesting the median line of the pitchfork I've drawn. The arrow points to the first fib target, but as the macro count would have this potential impulse as the 3rd wave, we could see this blow past the .236
My personal belief is that we are still correcting and in a bear market, and that we are to go down one more leg before the correction ends. Like i've said in previous publications, I believe the correction ends between $1600 and $2600.
We've completed a clear impulse wave in 5, and now are correcting in the final C wave. The C has blown past the .50, and now we're looking for the golden pocket trade. If we see a reaction upwards in the golden box drawn, we have an 80% chance of retesting the median line of the pitchfork I've drawn. The arrow points to the first fib target, but as the macro count would have this potential impulse as the 3rd wave, we could see this blow past the .236
My personal belief is that we are still correcting and in a bear market, and that we are to go down one more leg before the correction ends. Like i've said in previous publications, I believe the correction ends between $1600 and $2600.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.