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This recent price action of BTC has confused me even more. Really struggling to fit this on my preferred count on Larger Degrees. I have solved a small piece of the puzzle but it's not fitting well in the big picture. I need to find some time to build up another count from scratch taking this recent price action as a reference.
So this is my preferred count. Focus is only on this price action in Green Rectangle. I have just used fibonacci guideline in relation to Elliot Wave.
This looks like a almost perfect impulse which is always a start of a larger trend. ABC zigzag which is a 3 wave structure. And in a Motive Wave which is 5 wave structure. Why i think it could be a motive wave not a zigzag ?
Its because that abc correction ( orange rectangle) looks almost perfect for a Running flat correction. A running flat correction forms only in motive waves as a wave 2 or wave 4 . Running flat corrections are followed by strong subsequent waves.
Purple Lines are where the fibonacci levels are in relation to their waves.
Grey channel is the Base Channel. I expect parabolic moves if we manage to break out of that.
This recent price action of BTC has confused me even more. Really struggling to fit this on my preferred count on Larger Degrees. I have solved a small piece of the puzzle but it's not fitting well in the big picture. I need to find some time to build up another count from scratch taking this recent price action as a reference.
So this is my preferred count. Focus is only on this price action in Green Rectangle. I have just used fibonacci guideline in relation to Elliot Wave.
This looks like a almost perfect impulse which is always a start of a larger trend. ABC zigzag which is a 3 wave structure. And in a Motive Wave which is 5 wave structure. Why i think it could be a motive wave not a zigzag ?
Its because that abc correction ( orange rectangle) looks almost perfect for a Running flat correction. A running flat correction forms only in motive waves as a wave 2 or wave 4 . Running flat corrections are followed by strong subsequent waves.
Purple Lines are where the fibonacci levels are in relation to their waves.
Grey channel is the Base Channel. I expect parabolic moves if we manage to break out of that.
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Maybe we have just completed primary 12 of cyclic 5
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