Does this sound familiar to you?
How about the 2017 ATH.
All this time nearly every Elliot wave trader charted this as a 1-2 1-2 1-2 thinking we go up for wave 3 of wave 5.
But we cannot ignore that this technically finished as a macro wave 3 high by hitting that 4.618 target and finishing sub wave 5 of 3 in an ending diagonal.
This is not a call for a short or that we go down. This is just giving you a heads up that there's a viable elliot wave count that would finish a macro 3 here indicating we can go down to the top of wave 3 subwave most likely. Around 41.5k
What would this mean for BTC? If this happens are we still bullish? Yes! It would still be super bullish. This would line up also with a super cycle or a very fast wave 4 recovery going into the melt your face phase.
I'm still long, but im carefully watching what happens at the moment.
This stinks.
- New people buying at ATH
- Shitcoins mooning. Not just good projects, pure shitcoins.
- Youtubers, news, all "guru'" super bullish and for sure we are going to 100k
- BTC.D dropping hard
- Very big structure broken with very little momentum
- Weekly MAC.D bear cross
How about the 2017 ATH.
All this time nearly every Elliot wave trader charted this as a 1-2 1-2 1-2 thinking we go up for wave 3 of wave 5.
But we cannot ignore that this technically finished as a macro wave 3 high by hitting that 4.618 target and finishing sub wave 5 of 3 in an ending diagonal.
This is not a call for a short or that we go down. This is just giving you a heads up that there's a viable elliot wave count that would finish a macro 3 here indicating we can go down to the top of wave 3 subwave most likely. Around 41.5k
What would this mean for BTC? If this happens are we still bullish? Yes! It would still be super bullish. This would line up also with a super cycle or a very fast wave 4 recovery going into the melt your face phase.
I'm still long, but im carefully watching what happens at the moment.
This stinks.
Note
After writing this post things quickly turned for the worse, we now officially broken the ending diagonal to the downside.Not looking good, where is that B wave when you need it.
Note
Hit golden zone on last wave, this might be the support for the B waveNote
Unfortunately my analysis was correct, im sorry for all you that lost a lot of hard earned money. Including myself.Be careful with buying the dip here. Be sure to scale out profits because there's a big chance we go deeper, and the same counts for alts.
All will be good, I wish you all the goodluck.
Note
Just a quick update we technically hit a possible retracement target (although deeper is more likely), which further validates my count as the fibs wave 2 bottom to proposed wave 3 top align with the fib retracement.It's not impossible and extremely uncommon for a super bull wave 3 to hold at the 0.236 fib. But due to a lack of subdivison in the dump i'd say we are going to form atleast an ABC with only the A being in.
Note
We are close guys!
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.
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.