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RE: My high probability EW count for BTC
As anybody else I may be wrong. Especially with EW analysis. But there are certain points which make me think that we are still in correction:
- The internal structure of the current move up. It doesn't look to me as a clear cut impuls wave;
- Insufficient time for a correction of the 2.5 years bull run;
- Insufficient depth of the correction as it didn't meet the weekly volatility implied targets . Also, historically BTC tends to retrace 80% + of its major moves up.
All solid points. Plus, the weekly chart for BTC just looks like it is begging for a C wave down.
It's always possible that the accelerating adoption/speculation rates could keep the bull running, so it'll be fun watching things unfold.