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Wxy

BTC is in the last stages of the corrective cycleOur view about the Bitcoin situation. The corrective cycle that started one year ago is reaching the last stages. Even though the current price could be an excellent option to buy BTC, we still believe BTC will make new lows until it goes down to the 12,000 level and reaches the Inflection Zone (green area) to end the corrective cycle. From there, we expect it will resume the uptrend and start the bullish cycle that will break the historic highs during 2023. We strongly believe this will be the last chance to buy BTC at this low price as we forecast that once wave 2 starts (II in orange, the new bullish cycle), the BTC price will never return to this price level. We will continue monitoring BTC and update you accordingly. Have a fantastic trading day
COINBASE:BTCUSDLong
by TradingtheRightSide
1
USD/CAD corrective mess triangle/complex correctionthe wave count dictates that we are in wave X of a minute degree and yet we haven't show the complete pattern so here is the probabilities: 1) Triangle : it is the highly probable pattern, and since the wave B/X is smaller than A/W and wave C/Y is bigger than wave B/X allows us to assume that a probable triangle would be a barrier triangle, with that being said we should anticipate price being supported at the red line, currently price has made and distinguishable abd correction but even with the NFP report coming out it positive for the Green price couldn't complete wave D this indicates to us that price is preparing a WXY correction inside of wave D but this still remain to the price to make it. 2) WXY : this is probable if price hasn't been supported at the red line we can assume that this corrective pattern is not a triangle which led us to this probability (WXY correction) but we cannot confirm this count until the price break the green line that server us as a support . 3) WXYXZ : as all wave practitioner i do know that this correction is rare but it still possible if price didn't visit the red support and continue it's rising.
Short
by Wyckoff_Monk
EURJPY buying (long) opportunityHello traders, today we want to share our view of the EURJPY. The long-term cycle is bullish and we believe there will be at least one more swing high or, in other words, another bullish cycle. This idea has the target of taking profit from this bullish cycle, There are two potential paths as we showed in the graph 1- Our forecast is that EURJPY will have to make another low before reaching the green area (which is the expected target the corrective structure WXY should reach before turning up) and then, we will buy EURJPY in the green zone. 2- Alternative path- The price will not reach the area and EURJPY has already ended 2 and it will start this bullish cycle before reaching the green area In both cases, in the medium term, we expect EURJPY to go up. Therefore, we can prepare to buy the EURJPY soon.
Long
by TradingtheRightSide