As weakness and corrective up-moves still persist in the price movements in BTC-USD, a Crypto-friend just asked me for a big Pic, when I suddenly became aware of what I just then had to call the "line of horror" in the almost forgotten big Pic Count I did a while ago...
Just have a look, and see which prices need to be reached if this Count is the actual market count . It implies to build a viable (II)-(IV) line by a massive price decay still pending....
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1h - the attempt of covering the possibilities/patterns from an EW-standpoint
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Well, he took the azur blue pill...to discover healing...
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Can' t help it but 3 lousy thumbs up for these Giant of Analysis work is way to poor...
That´s on point! Great, that´s fun - now we can count the C wave down.
Mit den allerbesten Grüßen
buergernamebenutzenistillegal
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@cryptoprom, thank you , Prom, you seem to appreciate the chart-Work provided here as much as I do...it should be growing a quite nice investment chance here in the Cryptos while others begin to scream "Crash"...you and I talk Correction as needed and foreseen for days now...
cryptoprom
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Great projections, let´s see what price action will show. Is this (IV) in your count (IV) of bigger 5? Then the real horror starts after (V)...
buergernamebenutzenistillegal
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@cryptoprom, Well, yes and no...there is a degree more which I have on the daily in green, where this enfolding patterns belong , too , But even if these are fifth waves I group BTC to the save-heaven assets like Gold , and gold is doing fifth waves of extreme expanded proportions...so there will be plenty of room on the upside again for BTC...
But if all five of fives are in...you are right, then there will be some kind of plunging horrors to come, but I do not tend to see it already at these price levels...
we will have to look if we then just make brackets around a great giant "I" above or around it, or if the cryptomarket will have done a transition to the next tech-level by then,will thank BTC for its endeavours and bury it slowly....or if this Crypto-Dinosaur will be able to rebirth/refork itself and its technology into something new... but this is star-music by now...let us concentrate on the now...
cryptoprom
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@buergernamebenutzenistillegal, you are totally right I don´t see the fifth wave anytime soon and more of a blow of topping. I just was curious if your coming (V) is (V) of 3 or V of 5 in your count.
buergernamebenutzenistillegal
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@cryptoprom, So, yes,in this Count, without saying it is the one and only viable , it is the (v) of V (green)...but this count ,if it is the one "active" ,would imply the deep C wave to meet the necessity to form a new (ii)-(iv) line, so the price behaviour enfolding will give us conclusion which wave structure is "active" and wether or not to change it for better predictability....
cryptoprom
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Great to see this probability as it was my primary count for the most time, now I have a tendency to we are on a D in an ABDCE triangle correction before the V and this is my very close alternate.
cryptoprom
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buergernamebenutzenistillegal
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@cryptoprom, yes, definitely ,as we see a contracting corridor...and a (ii)-(iv) line can be drawn without a plunge like in the SHTF Count, because it is another degree you are counting there...Thanks for posting and discussing
cryptoprom
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@buergernamebenutzenistillegal, thanks and yes there is still the lower degree count from (5) of (III) in the chart, but not relevant.
Mit den allerbesten Grüßen