1st scenario
Wave iv ends at the bottom line of the triangle, line that almost coincides with the whales support. New impulse wave that completes the wave v of larger degree, which at the same time completes the wave (v) of one larger degree more.
2nd scenario
Wave iv breaks the bottom line of the triangle, ending near the 52.6k level. New impulse wave may be a...
Apparently, bitcoin's forming a motive wave that might head us to the 70.000usd zone. It's also trying to find support at the 0.618 level of the fibonacci extension.
On the other hand, if we look at the graph on a daily time frame we may be at the end of a wave B of an ABC corrective pattern, indicating the start of a wave C that may take us back to the 50.000usd...
I have been studying the Bitcoin correction for the past two weeks and ended up drawing these patterns.
-Main diagonal corresponding to wave A of the correction.
-Simple Zigzag corresponding to wave B of the correction.
-The expansion diagonal of the Weird Ending corresponding to wave C of the correction. I know that the final diagonals can appear at the position...
