Today's unexpected 7.3% surge suggests a reassessment of the current wave count. Specifically, it supports reverting to the alternate scenario I outlined on July 30—namely, a more complex wave iv (circled) corrective structure unfolding as a (w)-(x)-(y) combination. This adjustment precedes the ongoing advance in wave v (circled) of the continuing Minor degree wave C.
As a result, the Fibonacci extension target at 6.96 remains valid and continues to serve as the primary upside objective.
Trend Analysis >> Once Minor wave C completes, the countertrend advance of Intermediate wave (B)—in progress since April 9—is expected to give way to a decline marking the onset of wave (C) of the same degree. This upcoming downtrend may begin within the next few days and extend into year-end.
WULF 
BTC $MARKETSCOM:BITCOIN BTCUSD
#CryptoStocks #WULF #BTCMining #Bitcoin #BTC
As a result, the Fibonacci extension target at 6.96 remains valid and continues to serve as the primary upside objective.
Trend Analysis >> Once Minor wave C completes, the countertrend advance of Intermediate wave (B)—in progress since April 9—is expected to give way to a decline marking the onset of wave (C) of the same degree. This upcoming downtrend may begin within the next few days and extend into year-end.
WULF BTC $MARKETSCOM:BITCOIN BTCUSD#CryptoStocks #WULF #BTCMining #Bitcoin #BTC
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.