On this bitcoin's daily chart, is showed an alternative to the first analysis, which suppose 5 waves are complete, and are followed by a combination three. there is a cluster arround the green zone, it represents a zone of confluence between the whole impulse retracement of 38.2% and the third wave's retracement of 50%, but there's more.. this zone is approximatly where W equals Y at one condition of course, and that is the top of intermediate wave (1) isnt overlapped, that puts the odds for another downmove arround the green zone, but as always confirmation is needed to validate this count in some form of reversal candlestick pattern or depending on each one's tool to validate the move , lets wait and see ...
down below is my first count of the move, and as in every tecnical aspect of financial markets, the analysis is general , but the risk and the interpretation are unique to each investor
down below is my first count of the move, and as in every tecnical aspect of financial markets, the analysis is general , but the risk and the interpretation are unique to each investor
