Lots going on, so let's try to break it down...
1. Wave 5 of the current impulse consolidation has made a triangle (YW) above strong support at 26,700. This pattern is incomplete.
2. False breakdown below (ORG) has made a second triangle. (1) and (2) together is a normal triangle presentation that typically swings higher.
3. 33k is fib 1.127 of the current impulse. Fib 1.127 is also historically a hard stop for BTC impulse waves.
4. BTC has a CME gap below at 20-22k, so I expect to return to there after making 33k.
5. bear flag target of 23,800 is not likely to be met at this time, but will be passed through heading to fill the CME gap.
6. WV3 stopped at the TL from 65k. (confluence)
7, If WV5 stops at 33k, this will meet the Tl from 62k for confluence there.
8. VPOC for this range is around 28,100.
9. Higher targets from BTC before the having run-up is unlikely.
10. The LTC halving run-up is here
1. Wave 5 of the current impulse consolidation has made a triangle (YW) above strong support at 26,700. This pattern is incomplete.
2. False breakdown below (ORG) has made a second triangle. (1) and (2) together is a normal triangle presentation that typically swings higher.
3. 33k is fib 1.127 of the current impulse. Fib 1.127 is also historically a hard stop for BTC impulse waves.
4. BTC has a CME gap below at 20-22k, so I expect to return to there after making 33k.
5. bear flag target of 23,800 is not likely to be met at this time, but will be passed through heading to fill the CME gap.
6. WV3 stopped at the TL from 65k. (confluence)
7, If WV5 stops at 33k, this will meet the Tl from 62k for confluence there.
8. VPOC for this range is around 28,100.
9. Higher targets from BTC before the having run-up is unlikely.
10. The LTC halving run-up is here
