After the scenario in my last posted idea was invalidated, there are only three scenarios left in my book.
1.The bottom is in, we're now in wave 1 of big wave 5. This one is the least possible case IMO. 2.The big wave 4 is not finished yet, we're now just finished sub-wave 2 of wave 5 of C. This one looks weird to me, but I'll try to recount it again. 3.(The chart above) The big wave 4 is not finished yet, we're now heading to finish wave 4 of C. This one is the most likely case to me at the moment.
The reasons behind this scenario are basically the same as my last posted idea, such as a fake double bottom. Plus, market makers can grab some liquidity around the 50k range and also open their shorts there.
I mainly based this scenario from serkangulec thanks to him.
This idea is not financial advice. Always do your own research.
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