Been thinking long and hard about this picture, and i think this is the one.
i've been observing the price action these last two nights on the smaller time frames, and noticed that from our july 20th "bottom", there was a shift in momentum, a break of pattern - and a totally new vibe that's entered into this market space. hard for me to explain what i mean, but i'm sure you could see\feel it too. we haven't seen an impulse this clean in quite a long time, which leads me to believe that we are finally in Wave Y of this Wave B correction.
all of the fib relations check out for this flat idea, and i have a few potential targets for you guys.
• Wave Y = 61.8%, 100%, or 123.6% of wave W
• Wave Y can not pass 161.8% of wave W otherwise it will become considered a Wave 3 impulse.
Therefore,
•100% = 37.1k
•123.60% = 39.3k
•161.80% = 43.1k
If btc breaks above 43.1k on this run, then our Wave 4 correction is behind us, and we can expect to see new highs.
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Ps. I've never traded a flat correction before, in fact this is the first time I am seeing one this large with my own eyes. All of these relations are textbook accurate, so I'm going to simply treat these coming days as a learning experience, so I'll know what to expect if we ever come across this sort of structure again.
I appreciate all of your support, and I hope you guys trade safe in these crazy markets.
\\
i entertained this flat idea the other night, but the liquidity hunt the other day really threw me off.
which would put our wave C target ranging between 14~20k depending on where this wave b move tops out.
i've been observing the price action these last two nights on the smaller time frames, and noticed that from our july 20th "bottom", there was a shift in momentum, a break of pattern - and a totally new vibe that's entered into this market space. hard for me to explain what i mean, but i'm sure you could see\feel it too. we haven't seen an impulse this clean in quite a long time, which leads me to believe that we are finally in Wave Y of this Wave B correction.
all of the fib relations check out for this flat idea, and i have a few potential targets for you guys.
• Wave Y = 61.8%, 100%, or 123.6% of wave W
• Wave Y can not pass 161.8% of wave W otherwise it will become considered a Wave 3 impulse.
Therefore,
•100% = 37.1k
•123.60% = 39.3k
•161.80% = 43.1k
If btc breaks above 43.1k on this run, then our Wave 4 correction is behind us, and we can expect to see new highs.
-------------
Ps. I've never traded a flat correction before, in fact this is the first time I am seeing one this large with my own eyes. All of these relations are textbook accurate, so I'm going to simply treat these coming days as a learning experience, so I'll know what to expect if we ever come across this sort of structure again.
I appreciate all of your support, and I hope you guys trade safe in these crazy markets.
\\
i entertained this flat idea the other night, but the liquidity hunt the other day really threw me off.
which would put our wave C target ranging between 14~20k depending on where this wave b move tops out.
