If we're taking off now we should get some expanding waves to the upside and through my trade plan this major fractal, if its going to play out will have us moving much higher.
Taking this low (for a few reasons) and expanding out fractal textbook EW waves, one inside the next, bigger and bigger.
If this is a completed higher fractal wave to the down side, making this a valid starting point for a new "impulsive wave" up to come in. I hypothesis that "textbook EW" 5 wave impulsive waves will happen and after their respective ABC correction has completed, it will then create a larger fractal bigger wave making that entire "impulse and correction" a larger...
The ideas I've posted with different many potential waves and seemingly direction, is simply me trying to make sense of the smaller fractal sub-waves that would create the bigger move higher that i have already predicted for Bitcoin to EVENTUALLY go much higher. Specifically these areas (breaking new ATH's) are where the waves, through my trade plan have major...
Taking Elliot Wave Theory as a foundation and applying a fractal growth to waves as they complete a full "impulsive wave" and its "corrective wave" ...i consider that a complete wave fractal and we will either grow exponentially or, in this case would have already put in a reversal to the down-side well below these current level (which broke the recent...
Expecting a continuation higher eventually here, but first we need to finish this ABC corrective wave to the down-side. Then we should see steady growth until the waves are complete and this would create a "fractal shift" that would be going well over ATHs...typical twice as much as the previous lows (where price is plotted to go in this idea)
A yearly fractal completing here and really shows the "fractal growth" that I've developed this specific way of counting waves, with EW as a foundation as far as wave structures and counts for a complete "impulse and correction"
Most waves i plot (all valid waves with strict rules) are indicating we're still down from here, but should we start to move higher right now it should look something like this
If this higher fractal wave down is coming in, its these levels I'm looking to short from. We may even see nice pull back up here in the very near future to give us a nice higher price to short from. To confirm that entry you want to find the completed Sub-Wave/Smaller fractal wave, which would be a smaller fractal wave 1-2 correction (ABC corrective wave)
A strong drop here and other markets like Bitcoin are primed for a final push lower, before what should be a long term reversal!
Didnt get the retracement you'd typically like to see, so we could see a sneaky slight push lower before putting in the actual move lower as depicted here, but so far it seems like we aren't getting that deep pullback and the waves are all there on the lower fractals...sooo this could be super bearish for quite some time.
I think most wave traders would agree that plotting out the major direction and its general wave structure isn't that hard to do, but its when you get into the smaller fractals/waves where it can be challenging to make the right decision on a day to day (intraday) basis.... this was hard for me to accept (nearly 10 years) that you're not going to call the market...
After plotting my waves to the best of my ability, I do see us moving lower still for a number of reasons. To be honest with yourself, you have to be able to see both sides of the market you're trading and manage risk accordingly. This would be a potential run higher, if these major waves have completed to the down side, even though i think time will show this...
A stretching out of the smaller waves into larger ones. Quite a zoomed in view of multiple higher fractal waves. Here, looking at the lower time frames, you would normally be expecting a respectable correction/retracement of the previous move. I present that when the lower timeframes or smaller fractal waves are filling a larger fractal wave, that is a direct...
I always have ideas for both buy and sell ideas but i am seeing the sell side waves filling out much more clearly and i would expect a nice drop here, into the halving date and set up a nice long-term entry buy position.
keeping a close eye on the EURUSD and always waiting for potential completed waves to take an entry!
Would like to see bitcoin take off and i think it will in the near future, but this larger corrective wave to the downside would give a nice reasonable correction on the higher time frames.
I have reason to believe Bitcoin is long, in the long-term, but for now I see a bit of a correction that should be expected. This would be the view of the approximate expected drop, before and good run higher. Keep in mind it is acceptable to just continue higher through my wave rules and it would simply change the counts slightly. **have a plan and trade that plan**