Hi everyone. I hope the chart is clear.
*we have a nice 12345 wave, wave 1 of the down move is still arguable for many traders to take it as a 5 wave or 3 wave structure but I take it as 5 because the volume profile of it looks like a 5 wave.
*wave 4 was the same length as wave 2 in time.
*if wave 5 ends near October 31, the price will either hit or near the channel midline
*We have a confluence of two different fibs around 13500 but I hope it's not going below 14700
*We can see the price is recently struggling to move in motive waves and that's a signal that we are in an ending diagonal pattern(3-3-3-3-3).
*We are getting close to a time fib level that's 0.618*(the time it took for Bitcoin to make its ATH from Covid low) which is around November 21
*we have a nice 12345 wave, wave 1 of the down move is still arguable for many traders to take it as a 5 wave or 3 wave structure but I take it as 5 because the volume profile of it looks like a 5 wave.
*wave 4 was the same length as wave 2 in time.
*if wave 5 ends near October 31, the price will either hit or near the channel midline
*We have a confluence of two different fibs around 13500 but I hope it's not going below 14700
*We can see the price is recently struggling to move in motive waves and that's a signal that we are in an ending diagonal pattern(3-3-3-3-3).
*We are getting close to a time fib level that's 0.618*(the time it took for Bitcoin to make its ATH from Covid low) which is around November 21