Convergence of 5 Patterns at $7550

You see that BTC price is behaving nicely with my Elliott Wave counts. We are on microsubwave 3 of minisubwave 5 of subwave C of Wave 2.

We see also see other patterns

Patterns in Play
1. Historical support/resistance for the current wave structure (since $7250) = $7550
2. Double top pattern (75% success rate) = predicts bottom of $7540
3. Elliott Wave (completing wave 3 of wave 2) = predicts $7460 - $7650
4. Ascending Channel (73% success rate) = supports above bottoms and predicts that when we hit bottom, we will begin a wave 3 (fluorescent green channel)
5. Bearish Pennant (55% success rate) = supports price will go below $7780 (drawn in pink)

Trends that predict alternatives:
1. Cross over of long term trend lines (top and bottom prices) = bottom of $7329
2. Cross over of sub-subwave 5 channel with subwave C = bottom of $7430

Comment: I don't think Trend #1 is significant. Long term trends are generalizations the further in time we go. The range boundaries becomes more hazy, like the shot pattern of a 12 gauge. $7550 IMO would be a confirmation of Trend #1, even at $7550.

Signs of a big crash:
1. fall below $7250

註釋

mean to say "(completing wave C of Wave 2)" not "(wave 3 of wave 2)"

supestv