Bitcoin EW forecast
Here's my guess:
[Analysis based on COINBASE]
We are most likely in the 3rd impulsive wave of a larger degree. this has a few reasons:
1. This last motive wave has been much steeper than the previous one, indicating this could be a wave 3 of the larger degree cycle.
2. The volume on this 3rd wave doubled compared to the preceding wave 1.
! This could also mean that we are in a wave C, but that is not yet relevant because we are trading the 5th of wave of the inner degree (both scenario's expect a 5th wave of the lesser degree).
Within this larger degree wave, we are most likely in the wave 4. this is because:
1. The preceding wave had the most volume of this run.
1. We are forming a triangle, which is typical for W4.
This means that I expect a final 5th wave push when this triangle beaks. Once we confirm a break of this triangle-setup (everyone has their own rules regarding confirmation), we can go long with a target of around 10k~, and a small probability of an extension to 11.7k.
Caution: This 5th wave will be an exhausted wave which will rapidly accelerate in the opposite direction since it marks the end of the large cycle wave 3 and introduces the start of the larger cycle wave 4 correction.
Invalidation:
Breaking the 7462 support (triangle breaks down): could signal a complex correction with the 5th wave following after that, or it could also signal that W4 of larger degree already started.
[Analysis based on COINBASE]
We are most likely in the 3rd impulsive wave of a larger degree. this has a few reasons:
1. This last motive wave has been much steeper than the previous one, indicating this could be a wave 3 of the larger degree cycle.
2. The volume on this 3rd wave doubled compared to the preceding wave 1.
! This could also mean that we are in a wave C, but that is not yet relevant because we are trading the 5th of wave of the inner degree (both scenario's expect a 5th wave of the lesser degree).
Within this larger degree wave, we are most likely in the wave 4. this is because:
1. The preceding wave had the most volume of this run.
1. We are forming a triangle, which is typical for W4.
This means that I expect a final 5th wave push when this triangle beaks. Once we confirm a break of this triangle-setup (everyone has their own rules regarding confirmation), we can go long with a target of around 10k~, and a small probability of an extension to 11.7k.
Caution: This 5th wave will be an exhausted wave which will rapidly accelerate in the opposite direction since it marks the end of the large cycle wave 3 and introduces the start of the larger cycle wave 4 correction.
Invalidation:
Breaking the 7462 support (triangle breaks down): could signal a complex correction with the 5th wave following after that, or it could also signal that W4 of larger degree already started.
Clause de non-responsabilité
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