If we reclaim above 50.2K this will be my primary / most probable count where we still haven't completed wave 1 of bigger wave 5 and are currently in wave 5 (yellow) of 1 (orange) of bigger wave 5 which will end around 59-61K region and will give a retrace towards 40K region where I would expect price to take out that liquidity I mentioned on chart before starting...
What about making a perfect bull flag with a 0.382 retracement around end of year on log chart in wave 4 as ABC where majority gets bearish before rise to our mentioned targets as wave 5 . #NFA
out of the box thinking
Recent price drop in btc wasn't a surprise for me as I was talking about 52-53K top from a while from both bullish and bearish perspective but now Bitcoin bulls need to be alert coz this bullish count which I made for bulls will be invalidated if we do close a 4h candle below 42.5K and that would indicate bigger ABC is almost 90%on the cards while on the other...
Just a reminder of how $BTC traps people in correction of same degree by bouncing off golden pocket zones of fib extensions before dropping to 1:1 ( see how close it came to 1:1 in 2018 bear market bottom) . And this correction is of same degree of 2019-2020 drop and 1:1 of that is on marked price
This count is based on thinking that we've bottomed out already ( which I think we haven't coz of time relationship with EW). But there's one case which can make this count pretty much valid and probable that's if we get rejected from 52-53K region and then hold around golden pocket zone of last impulse from July (marked on chart) and then get range bound in...
Not a big fan of fractals but this seems like repeating as it was in 2019 bull market.
We dumped 62% from top at that time. Also other factors coming in confluence for knowing those check my earlier posts . #NFA
BTCUSD wave count I discussed in earlier posts indicating ABC correction might have finished (less probable to me). For validation of this we should reclaim above 52.5K with sustainable volume on higher timeframes and also not to loose 40.5K on daily /weekly basis. My personal bias is towards 1st scenario leading to 18-20K
reclaim above 52.5K on higher timeframes will indicate that wave 4 has finished .I also have bullish count for that targeting 80-90K by end of year. but that looks less probable to me . this scenario has high probability in my opinion .#NFA