hello's
if the spx500 is indeed working on a diagonal, as shared in my last post(view at the bottom of this thread);
then i think this is the highest probability path for bitcoin to take.
a choppy 3 wave move which goes on for a few weeks, before seeing the final leg down to 22~23k.
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wave 4 could go a bit higher than my current projection, but it would need to maintain the structure of a contracting wedge, and it would also have to get into the territory of wave 2 for it to play out as planned.
(i'm able to move the upper portion of the wedge out a bit to rhyme with the 0.50% retracement at around 35k.)
will continue to monitor it as the days go by.
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ps. if i'm right about this idea, the corrective phase could come to an end at 22k by the end of july.
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spx500 diagonal 👇
if the spx500 is indeed working on a diagonal, as shared in my last post(view at the bottom of this thread);
then i think this is the highest probability path for bitcoin to take.
a choppy 3 wave move which goes on for a few weeks, before seeing the final leg down to 22~23k.
---
wave 4 could go a bit higher than my current projection, but it would need to maintain the structure of a contracting wedge, and it would also have to get into the territory of wave 2 for it to play out as planned.
(i'm able to move the upper portion of the wedge out a bit to rhyme with the 0.50% retracement at around 35k.)
will continue to monitor it as the days go by.
---
ps. if i'm right about this idea, the corrective phase could come to an end at 22k by the end of july.
---
spx500 diagonal 👇
Note
Keep in mind, that it's 100% possible for Bitcoin to give us one more fat leg down before it goes for that wave 4.
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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.
i only share a tiny fragment of my ideas on this platform. to view my daily work, join the lunar syndicate 9 👇
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.