A possible scenario is this ascending right triangle where 1of3 forms the upcoming D wave, 2of3 forms the E wave in the triangle and 3of3 breaks out and makes all the bulls' dreams come true.
This would jive well with the series of flash crashes and long wicks being bought up near the bottom of this formation where some are definitely increasing their positions feasting on stops getting hit. Oversold alts will skyrocket on this D wave and then fall back again on E and 3of3 where BTC will dominate all as it shoots up rapidly.
That's how I see it anyway. Take it with a grain of salt and don't use this idea to trade on. we can just as easily have a massive 1k selloff in an hour like from 10600 to 9500 and hit major support at 9300 below. Any farther down and we can throw out all bullish EW counts.
This would jive well with the series of flash crashes and long wicks being bought up near the bottom of this formation where some are definitely increasing their positions feasting on stops getting hit. Oversold alts will skyrocket on this D wave and then fall back again on E and 3of3 where BTC will dominate all as it shoots up rapidly.
That's how I see it anyway. Take it with a grain of salt and don't use this idea to trade on. we can just as easily have a massive 1k selloff in an hour like from 10600 to 9500 and hit major support at 9300 below. Any farther down and we can throw out all bullish EW counts.
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correction: not all bullish EW counts get tossed as a truncated 5th wave of wave 1 could be carrying out its ABC correction. I meant that any EW count that already had us on wave 3 from 9350 would be invalidated.