Bitcoin due for over 50% correction or forming wave 4 triangle?
Hello.
Have been studying, learning and viewing the charts.
Hoping to share this idea as a current view of the market from a student.
Feeling that the run from $3000 to $13800 may have found exhaustion.
If we break above the 50 ema on the hourly chart around $11600 then I think it is possible
that we are finishing a triangle in sub wave 4 before the last impulse.
Personally I think we are in sub wave 2 and are going to correct over 50% during a WXY
Alternate estimate:
Have been studying, learning and viewing the charts.
Hoping to share this idea as a current view of the market from a student.
Feeling that the run from $3000 to $13800 may have found exhaustion.
If we break above the 50 ema on the hourly chart around $11600 then I think it is possible
that we are finishing a triangle in sub wave 4 before the last impulse.
Personally I think we are in sub wave 2 and are going to correct over 50% during a WXY
Alternate estimate:
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Updated the Zig Zag to fit the 3-7-11 Swings concept
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Also made the Zig Zag a 5-3-5 as it should be
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Ready for the flat to end in the next couple days
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Flat (3-3-5) finishing up
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Cleaner on the 4 hour chart
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My timing & target was pretty close
Thinking we play in a range for a few days. Possible triangle formation.
Looking for price to drop closer to $10k then eyeing $12k
Thinking we play in a range for a few days. Possible triangle formation.
Looking for price to drop closer to $10k then eyeing $12k
Comment:
To $12k from here to finish off the rest of the month
I thought $10k would hold so I jumped in early there
Held all the way down thinking $9500 would be my invalidation number
as 61.8% retracement fib level was there.
Added more from bank since I jumped in early.
Another lesson in why I need to wait for confirmation.
The X leg is tough to plan
I thought $10k would hold so I jumped in early there
Held all the way down thinking $9500 would be my invalidation number
as 61.8% retracement fib level was there.
Added more from bank since I jumped in early.
Another lesson in why I need to wait for confirmation.
The X leg is tough to plan
Comment:
I was tired when I typed 61.8% instead of 78.6%
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Someone is really messing with my emotions!
Not sure $12k by the 31st will happen now.
Still feeling we have to break upwards from here some
Not sure $12k by the 31st will happen now.
Still feeling we have to break upwards from here some
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Unforeseen market manipulation
Whale had 4k BTC sold on Binance, not sure if any other exchange activity by them.
Back to trying to break upward again
Whale had 4k BTC sold on Binance, not sure if any other exchange activity by them.
Back to trying to break upward again
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Still estimating we are in an ABC Any Three of a WXY
Estimating we will pivot in a few days around $11700
but the target is the supply line (Gann 8/1)
Time cycle caught the change of charactor
Work keeps me from actively posting
Estimating we will pivot in a few days around $11700
but the target is the supply line (Gann 8/1)
Time cycle caught the change of charactor
Work keeps me from actively posting
Comment:
Possible Ending Diagonal
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I think we will form a double three with X starting at $9k and Y starting at $12k
leading us down to $7250 which i find is a fib confluence zone.
Hitting the WXY 1:1 ratio and the 61.8% retracement