good evening humans,
i didn't plan on doing anymore updates in 2021, but i felt like bringing you one more potential scenario.
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i do still think that we're in a fairly large correction that is going to take many more months to play out,
we will most likely see a lot more chop in both directions,
and i do believe we'll make it down to the low 30k range overtime (within the next 6 months).
though, predicting the path we take to get down there will be the real challenge.
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i'm going to do a video on this tomorrow morning, but long story short -
if btc doesn't take out the local lows on this next drop, then i do think we're just playing out an even more complex corrective phase that could potentially take a year to play out (maybe even longer).
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for this particular scenario, i'm looking for a rejection from 51.3~51.5
followed by a little drop to anywhere between 45~42k.
depending on the wave structure, we'll be able to have a more definitive downside target once it begins.
once that downside target is realized, if this is indeed the path we're destined to take, then i think we make an impulsive move to about 57~60k for yet again another bull trap.
šÆ
i didn't plan on doing anymore updates in 2021, but i felt like bringing you one more potential scenario.
-----
i do still think that we're in a fairly large correction that is going to take many more months to play out,
we will most likely see a lot more chop in both directions,
and i do believe we'll make it down to the low 30k range overtime (within the next 6 months).
though, predicting the path we take to get down there will be the real challenge.
----
i'm going to do a video on this tomorrow morning, but long story short -
if btc doesn't take out the local lows on this next drop, then i do think we're just playing out an even more complex corrective phase that could potentially take a year to play out (maybe even longer).
----
for this particular scenario, i'm looking for a rejection from 51.3~51.5
followed by a little drop to anywhere between 45~42k.
depending on the wave structure, we'll be able to have a more definitive downside target once it begins.
once that downside target is realized, if this is indeed the path we're destined to take, then i think we make an impulsive move to about 57~60k for yet again another bull trap.
šÆ
Note
here's the micro-wave count for any ewt nerds out there o/Note
i'm pitchforking it, pretty sure the top is inNote
still possible it pushes to the 0.887 at 51,533 for the final trap ~expect it if it comes
i got an order over there, just in case
Note
extensions on extensions,but i'm not worried =]
Note
it's gonna expand higher than i originally anticipated, i'm back on the sidelines for nowNote
if that was the top, which im not saying it is - then this is my projection ~Note
be ready for it
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if you know, you know.
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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 š
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.