Let me be clear with you. No one knows where the bottom will be. It’s all about probabilities and risk management. There are some 3 scenarios and possibilities in my view. 1. Running Flat: This count suggests that 32.9k was the bottom for this flat correction. And major correction in from of wave 4 has completed. Now BTC is ready for major impulsive wave 5. Wave 5 excluding the case of truncation can take BTC to 72–75K.
Expanding Flat:This the most bearish count. Expanded flat can take BTC to 26–24kish zone. Wave C of expanded flats most of time terminates at 123.6% of wave AB (26–24k). It can sometimes extend to 161.8% (18.2k) which aligns with 200WMA (IMO this is less likely).
ABCDE Triangle:One of the most boring and frustrating times for investors might come if this scenario plays out. It will take a long time of sideways at wide range with euphoria at wave D and extreme fear at wave E of wave 4 correction.
Bonus Count:I would like to add one more count to this thread. In this count BTCis in wave 2 (Golden) of major 5 wave structure (Darkest blue). This count is valid until BTC is trading above 28754.4. Deeper wave 2 correction=Powerful impulsive wave 3.
Conclusion:Among these 4 scenarios, I think that scenario 1 or 4 has a higher probability of playing out. Blue zone flip (44000) will add more confidence to these counts.
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