BTCUSD - Bitcoin has 2 variants of wave counting
The main count: The big wave [4] of correction is now ended, and the 5th wave started to grow. This variant suppose a double three truncation, moreover the wave [y] is 4 times smaller than [w] wave, well it is still a fibo number, but it is rare met on the market.
The alternative count:(the count I think will become valid): The price is currently in the wave (D) and the triangle is not formed. This means that the price will go downtrend after triangle formation, in order to end the double three correction and start the big 5 wave.
As you can see, the price on the long-term should go up and further pass the historical top, if the figure formation is actually impulse. However, there is always a chance that the historical growth of Bitcoin is consisted of a zig-zag that ended on the 65000 level, but even in this case, the price should go uptrend, after a while.
The alternative count:(the count I think will become valid): The price is currently in the wave (D) and the triangle is not formed. This means that the price will go downtrend after triangle formation, in order to end the double three correction and start the big 5 wave.
As you can see, the price on the long-term should go up and further pass the historical top, if the figure formation is actually impulse. However, there is always a chance that the historical growth of Bitcoin is consisted of a zig-zag that ended on the 65000 level, but even in this case, the price should go uptrend, after a while.
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