I'm still not sure why I put the original peak of Wave 1 (Sep. 27) in the middle of a continuation pattern. Even then, it took me a while to realize it obviously peaked over a week earlier on Sep. 18. You can still see the structure of an impulse wave using Heikin-Ashi so adjusting Wave 1 to Sep. 18 will get you something like what is charted in YELLOW. The previous wave is charted in BLUE. Based on levels from past corrections and from volume profiles it I would bet on a major correction starting if price goes below the PoC ($5700 at this moment) sharp enough with no buyers. Major support at $4800 and $4400?
For the record, I think it's too early to call the start of wave C looking at 1D candles. This is more of a revision than a prediction.
For the record, I think it's too early to call the start of wave C looking at 1D candles. This is more of a revision than a prediction.
