Hello friends!
Few months ago, I posted an idea that the low is likely to be put in around 500 SATS. Yet, this idea considered that Bitcoin will not trave as low as it did; this got me thinking... I took a break from the charts due to personal matters and after a while I removed all my analysis from the EOSBTC count.
The current count "fits" better. An extension...
It is likely not.
The analysis suggests we are close to the bottom, however, I am still expecting the ending diagonal into the 5th wave of the primary 5th wave.
Triangle into X - very bullish and currently the more likely count given the long-term bullish market structure.
or
ABC into X and much lower targets - bullish in the long-term.
I choose to hedge and wait for the new lows to occur;
Once we start to loose market structure, it is likely this is the top.
Personally, I am more inclined to believe this is a running flat as opposed to the expanded one because the coin has been in a very strong downtrend. Every rise is a sell opportunity.
