Bitcoin Bulls Prepare for Short Squeeze to $31.6K+

Based on previous and ongoing analysis of BItcoin, I believe its yet headed for $31.6K at minimum. Previous mid-micro wave pattern was invalidated however, the bigger pattern and upside target remains in tact.

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P.S. Invalidation is only indication if you're aware of how to adjust :)

註釋

making sense of the slowly played downside swing --

註釋

(previous form invalidated)

(upside in wave completed with a visit to the 0.89 fib).

註釋

Micro (extended) diagonal wave is here to signify downside action on the way.

註釋

potential explosion on the way...

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註釋

could leave the post sitting in an invalidated state ---

the expected diagonal appears that it will not expand but instead contract.
this means that the diagonal will only be the first wave of the expected 5 wave sequence (upwards).

註釋

after zooming in and remeasuring the lengths of Waves 1 and 3, Wave 3 is longer than Wave 1 which indicates that this diagonal is truly in extended form :)

despite Wave 2 not dropping as deep as expected, Wave 3 is the ultimate catalyst to let us know the type of diagonal we should expect to see play out.

in an extended diagonal, Wave 4 drops supremely deep into the zone of Wave 2 (but should not break it as this would cause invalidation immediately).

with Wave 3 being longer than Wave 1, its fully expected that Wave 5 is longer than Wave 3 (so long as Wave 4 holds :)

after this 5 wave diagonal move, a retracement of 0.618-0.89% is mandatory. the pump will be aggressively sexy but longs should be avoided up high and instead grabbed from down low.

our expected trip to $31.6K is now one step closer to an almost undeniable confirmation! for more near real-time, continuous analysis, join the community!

#lastupdate

註釋

Mismeasured the size of W1 and W3; diagonal is contracting, W5 is in motion.