targetsir
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$BTC Wave 4 ABCDE Playing Out and What's to Come

COINBASE:BTCUSD   Bitcoin / Đô la
The setup:

$BTC has been in a downtrend that's respected the "Log downtrend line" for the last few months. I believe we are in a Wave 4 ABCDE retracement of a super cycle.

On the weekly, we have just established a higher low and are looking for a lower high still. This lower high will happen at a retest of the "Log downtrend line", where it will temporarily fail and reject.

The rejection will establish a lower high, at which a point a sell off will occur. The sell off will be with declining volume . This will be an early signal for the end of the months long downtrend. Savvy investors will see the declining selling volume and the completed pattern we have been tracking for the last few weeks. Large investors will front run Wave E of the ABCDE in preparation for the large bull run.

Due to the front running, Wave E will likely be truncated, either at the 0.618, 0.786, or 0.887 levels. Monthly, weekly, daily Stoch RSI will be reset. We will see a daily bull div             , and the bull run will start.
hi, nice chart, but may I ask what wave structure could this wave D be? I mean 3 waves structure or 5? 5-3-5?
Phản hồi
targetsir Casey7485
@Casey7485, EW calls for it to be a 3 wave either ABC or WXY, so it could be 3-3-5 / 5-3-5 or 3-3-3. What's going to be difficult is the convolution of different degrees.

Currently, I think we have a contender for a leading diagonal 5 wave, so it would suggest ABC or 5-3-5, but we'll have to wait for more data to confirm.
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targetsir Casey7485
@Casey7485, sorry not a leading diagonal just an ugly 5 wave impulse with a very long 3rd.
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targetsir targetsir
@targetsir, potentially, but we need more data to confirm
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Casey7485 targetsir
@targetsir, thank you so much! but now it seems like a triangle consolidation
Phản hồi
targetsir Casey7485
@Casey7485, yes, the triangle could qualify as the X consolidation wave.In which case, the upper target may still be reachable.
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targetsir targetsir
@Casey7485, now that the triangle has played out, it looks mor elike a WAve 4 triangle in an ABC. So we're still looking for a larger pullback to create the X.

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Casey7485 targetsir
@targetsir, you are right, now i"m considering how deep will the pull back become. maybe make a H&S
firsthttps://www.
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Casey7485 Casey7485
Phản hồi
targetsir Casey7485
@Casey7485, do you have a twitter? I post my in progress counts here: https://twitter.com/TargetSir Would like to see your counts as well.
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