From My Perspective. Bitcoin appears to have completed its correction that began on December 20 2022 and terminated wave 2 on a lower degree. Now it should get interesting due to the SCR indicator starting off with a limp. To the moon Alice! On another note a golden cross(50 DMA crossed above the 200DMA) has occurred on the Dow Jones Industrial Average, Nasdaq...
Bitcoin developed a small Head & Shoulders top upon which the regressive target has been reached. This is my count that suggests the Santa Claus Rally is moments away from being acknowledged by the crowd..........
Perhaps! To resume from where I left off in my prior chart posted on the 15th, Minute wave two has terminated from my perspective based on my count. I didn't change the Minute count. I consider it to be an Expended Flat correction that first began on December 13, and the higher high was the peak of the expanded Wave B. This was followed by wave C which has...
According to my perspective, Bitcoin has completed a Minuette wave 1 according to my labeled nomenclature. In this update I decided to add the Suminuette count with a parallel trend channel along with the termination point of Minuette Wave (i) that occurred on the 13th of December. I also decided to include a few notifications on the chart. Wave B in EW...
Ok this should be better. This is where I am currently within the corrective count that I had cautioned about earlier on. Will see if an adjustment will be necessary. So far an expanded flat that may become a complex combination of some sort is my call.
Will provide another update right after this one on a smaller degree to see better.
Bitcoin appears to have formed some very interesting bullish patterns among which is a classic Inverse Head & Shoulders( Head & Shoulders Bottom), Another bullish one which is an Exotic Dragon Pattern. However, despite these bullish patterns there will be corrections along the way. At this particular moment I think it would be wise to be cautious and expect...
Technical Analysis is more of an art than a science due to the fact that live patterns aren't always textbook picture perfect to the eye. We need to be flexible when it comes to the 'design' of patterns as we remain discipled when applying the 'rules and guidelines'(parameters). This particular example would serve as a perfect one due to the flexibility needed to...
Recently I had said that I would no longer post any pattern count updates due to Tradingview's data discrepancy. However, I chose to simply say, " Well would you look at that, the first highly probable target point I had pointed out has been reached" with a nice volatility surge out of the tight range Bollinger Band Squeeze on the Daily time frame,Ho ho ho, Merry...
Submicro wave 5 in micro wave 4 appears complete. Therefore micro wave 4 would be considered to be terminated. Minuscule wave 4 sideways correction completed with a downward thrust out of the triangle.
Submicro wave 5 in micro wave 4 not complete. Therefore micro wave 4 not complete yet. Once minuscule sideways correction in wave 4 completes within low volatility Bollinger band squeeze, submicro wave 5 will follow and complete micro wave 4 with a probable downward thrust.
Micro wave 4(pink) relabeled and appears complete. The micro wave 4 pattern is an expanded flat(3-3-5) from my perspective. Prior count prematurely labeled micro wave 5 as complete in subminuette wave 3.
Currently price is in what appears to be a regressive corrective subminuette wave iv. What sort of correction this will develop in to is the question. Once this correction completes, subminuette wave v once completed will complete a Minuette/Minute wave 1 that first began on November 21 2022,in my humble opinion.
And that finalizes the count based on my perspective since Bitcoin's inception. My Primary Cycle Count puts Bitcoin at a Cycle wave 2 Low/Bottom on the 21st of November 2022. Next Cycle wave is 'To The Moon Alice' in Cycle Wave 3 since that date!!! Wishing you all nothing less than the very best! Season's Greetings & Happy Holidays!
I think most can remember that Minor wave 4 triangle due to the fact it was the first point of relief since the FX lack of liquidity news hit the market. That was when I posted my first chart on Tradingview. I posted a chart concerning that precise triangle with an EW Count. In the next chart I'll zoom in on the final leg in Minor wave 5.
The next one is the one where I'll zoom in on Intermediate wave 5 within Primary wave C in Cycle wave 2. Keep in mind that the thrust out of Intermediate triangle wave 4 was when the FX lack of liquidity news hit the market, particularly in Minor wave 3 within Intermediate wave 5.
This is part 2. Next one will be a close up of Primary wave C within the corrective regressive Cycle wave 2
This will take a minimum of 3 chart parts to get a read up to date.