The reason why many people get confused when they look at the BTCUSD chart is that we have a rather complex WXY correction instead of the typical ABC or ABCDE.
This chart is looking very good I made this count back in August (see original count down below) and it still holds true.
It just took longer than expected.
How is this chart structured?
You see 3 degrees of WXY corrections (yellow, blue red).
The yellow degree is the smallest and the red degree the biggest one.
The Roadmap:
Ok, so what can we expect?
We are right now in the downwards push (Y of yellow degree and X of blue degree).
After that, we will see a big push to the upside (Y of the blue degree and X of the red degree).
This is the point where everybody thinks that the bulls returned.
However, this is not the case, because we will see one more push to the downside (Y of the red degree).
This is the point where the market will shake out most of the people, and then when no one cares anymore, that's the point where we will go for the next bullrun.
I have similar ideas for LTC, ETH, and XRP, which I want to post over the next couple of days if you guys are interested.
So, if you find this article helpful show it some love.
This chart is looking very good I made this count back in August (see original count down below) and it still holds true.
It just took longer than expected.
How is this chart structured?
You see 3 degrees of WXY corrections (yellow, blue red).
The yellow degree is the smallest and the red degree the biggest one.
The Roadmap:
Ok, so what can we expect?
We are right now in the downwards push (Y of yellow degree and X of blue degree).
After that, we will see a big push to the upside (Y of the blue degree and X of the red degree).
This is the point where everybody thinks that the bulls returned.
However, this is not the case, because we will see one more push to the downside (Y of the red degree).
This is the point where the market will shake out most of the people, and then when no one cares anymore, that's the point where we will go for the next bullrun.
I have similar ideas for LTC, ETH, and XRP, which I want to post over the next couple of days if you guys are interested.
So, if you find this article helpful show it some love.
Comment:
The original count back from August still accurate, everything is just slightly delayed:
Comment:
As you can see from this example, most of the time everything takes way longer than you expect.
This chart is about the overall movement and not the exact price targets and or timing!
The lines are just there to show the movement that I am expecting, when they will happen and how long they will take a can't tell you.
Maybe I will add more exact price targets in the future.
However, this is about playing the big cycles.
I am not trying to catch the exact bottoms and or tops, I just accumulate on the way down and average out on the way up.
This chart is about the overall movement and not the exact price targets and or timing!
The lines are just there to show the movement that I am expecting, when they will happen and how long they will take a can't tell you.
Maybe I will add more exact price targets in the future.
However, this is about playing the big cycles.
I am not trying to catch the exact bottoms and or tops, I just accumulate on the way down and average out on the way up.
Comment:
SUMMARY:
This is what you should take away from this idea.
1. We are pushing deep now
2. There will be a massive impulse where everybody thinks the bulls returned
3. We will see an insane drop that will go way lower than the current one
4. This is when most people will get shaken out
5. When everybody is super depressed and no one believes it anymore the bulls will return
No timing, no price targets
This is what you should take away from this idea.
1. We are pushing deep now
2. There will be a massive impulse where everybody thinks the bulls returned
3. We will see an insane drop that will go way lower than the current one
4. This is when most people will get shaken out
5. When everybody is super depressed and no one believes it anymore the bulls will return
No timing, no price targets
Comment:
We are not at the bottom. Just another corrective structure. I see further downside movement for now:
