BTCUSD is about to accomplish the sub-wave C of the corrective wave ((4)).
Wave ((4)) is forming a running flat pattern, where wave B has exceeded the origin point of wave A. But due to lack of bear power, wave C is too weak to break the ending point of wave A.
It Indicates bulls are strong at the movement.
But, the price can still break wave A to complete the expanded flat correction, if the price breaks the recent low of 33950.
Price has retreated from 50% at 34244, and we have seen a price surge.
I will upload further information soon.
Weekly chart:
Comment
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Reversed from 50%. However, price has to confirm bull run.
Nice analysis mam!! Plz correct me if i'm wrong, flat is a 3-3-5 correction ryt? But you have labelled the move A as a 5 wave move. So is it correct or something else unfolded there?
forextidings
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@iam_lovish, You are right, but i am going for this structure as i don't force labeling waves.
iam_lovish
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@forextidings, Also your weekly chart has less data. Check out this one- htt ps: //ibb.co/7pWLrNV (remove spaces plz). This can change the whole scenario. Plz share your thoughts.