WARNING: is Bitcoin now going to CONFIRM a TREND down?

Okay, that’s kind of how we look at it now from here. Let’s say this is overly complicated, but we’re kind of getting progress made here. What we want to do is we want to kind of take a look at this entire way, three, this bigger one. So, if I go ahead and actually remove those, we end up with this. This is the kind of the one that we’re tracking we can kind of see in here. We have this way through. What we want to do is we want to know how much of this we’ve retraced upwards. Okay, so we take the wave two. We take the wave three numbers here, the highs and the lows, and we can see that we would typically be looking at the 38.2 retracement right up here. This would be typically where your wave 4 would go okay, that would be 22 000, so it’s 23, 286, okay, this structured move to the upside is interesting as well. It looks like uh. It looks like what you want to kind of do this as a five ways. You want to go a one, two, three, four we’re not trending down uh, but we actually are, and the reason for this is that we do not meet those requirements uh to the downside and say if we were to go pull this up here. Uh right in here, you can kind of see how we failed to kind of rally up here past the 1.618. We get it at this point. Okay, but we don’t get it at this point. So we have this kind of pull to the downside. So all in all this doesn’t give us that kind of idea that we are in some kind of five way structured route to the upside, but we’ll see how that kind of plays out um whether or not we push up slightly higher the main number of invalidation. The number that, if you want to be a ball in the market uh the number that you’re going to be wanting to kind of make sure we push higher than is going to be 23 608, okay, that number at the top. There is the one that’s going to tell us that we are categorically um. You know not in a five-wave structure to move to the downside, because we have overlap within there and we wouldn’t have an overlapping structure with wave 4 and wave one under away three uh structure on a bigger scale.

So we know that this would be a wave 3 structure taking us down and therefore this overlap here would be a big flag to say no we’re not doing five waves down um. So knowing these things, if we go ahead and remove that and what I will do is I’ll say that we can be anywhere really realistically between 23 286 and that area there I’m just going to put a little bit lower. Let’s say: 23 600 to be nice and neat about it. Okay, if I remove that we kind of see that that could be our fourth wave movement. We can be

anywhere in that box and we’ll be okay now the moves to the downside here, let’s take the idea that maybe we’ve already topped out it’s possible that we haven’t, but we’ll take the idea that we have and if we have already topped out here, you know how low are we likely to go and for that there’s two options really um. Let me actually just snap that to the the right wick that one there there’s two options: option one uh. We have a typical kind of wave five situation. If we go to the 1.236 to 1.618, that’s actually going to be up here and so we’ll talk about 22 400 to 22, 602. Okay, you can see it right in there. That would be our typical kind of wave five based on that wave 4 situation. Now the other option is you’re getting over extension, in which case you can’t use the fib levels to kind of give you that guide, you’re going to have to measure the movements in inside this fifth wave and what that will look like is it will look like we’d have some kind of really big kind of structured move like this.

Leave a Comment