Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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Hello everyone in the last idea we considered a correction in the bitcoin market. Nothing much has changed since then. However, the correction was changed to flat. This is also evidenced by the slope of the channel. The breakthrough of such a channel is also irrelevant as it gives belated signals. Nightly breakthrough not has renewed the highs, so all in force. However, we are more likely to finish the correction at the lower boundary of the channel. I will also look at the situation and give an earlier signal to long. Stay tuned for idea updates!
So you’re saying that we aren’t on a larger wave 5 yet. I was also betting on that. Have you tried plotting waves for the alternate scenario that wave 4 and abc correction are over?
TimurKuspanov
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@ShounakShetty, Yes I consider an alternative scenario, if we update the local highs then we are in the 5th wave of growth
TimurKuspanov
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@ShounakShetty, the basic idea is that the correction is not over yet
ShounakShetty
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@TimurKuspanov, Local high would be 8400?
I'm wondering how high B can go before ABC is violated.
The only time wave B can pass A is when it is a flat correction and not a zigzag ABC
then an A has 3wave b 3 waves and C 5 waves
TimurKuspanov
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@ShounakShetty, ABC is broken when wave B reaches the initial value of the start correction. In this case, it is the level 8430. When it passes, I will be able to exclude other options for the development of events. In this case, of course, we lose long positions. But we gain power over short positions. I'm going to publish another idea now.