Ok at the beginning we should consider this, that the end of wave 5 is not yet clear or it is not completed yet so we are looking for 50K resistance(and also 0.6% of Fibonacci retracement level) as the end now.
after we reach that red zone or maybe a little more pump then the price can start correction as mentioned on the chart too.
DISCLAIMER: ((trade based on your own decision )) <<press like๐ if you enjoy๐>>
ืืขืจื
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4H chart:
ืืขืจื
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1H update now and local Head and Shoulders that is forming:
I realy think you all have no idea at all.Uncluding me.
peterbhc
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Thank you nice chart. Waves 1 & 2 are locked in, but for me It is always difficult to accurately identify waves 3 and 4 until after 5 is in. Wave 3 could still be in process on the daily? Perhaps if 50-51 resistance is broken that could be a wave 3 with upper levels and wave 4 could be the retest exposing wave 5 much higher.
syedhamza2135
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@peterbhc, Yup, that would be the case if we are in Elliot Impulsive waves. I am (aswell as the authorof this idea) predicting these waves to be Converging Ending Diagonal waves. Lets see how it turns out to be since future is never certain :)
Elestek
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Wrong analysis, wave 2 and 4 canโt be shorter (in time) than their previous waves in Trending Impulse pattern.
luckyHare78370
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Just imagine how many short liquidations are sitting above 66k
NewWave_Traders
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I've got the same count for this being a C wave rally, if you haven't considered the 1,2,1,2 option then take a look at this too, it shows how we can squeeze up from here as well, but needs to happen fairly quickly (next couple days max)
yeah looks like we are on the last pumping of the B wave unless we have a long correction that will turn it to WXYXZ , before the last buy opportunity (52k 53k) but it's soo risky
i believe that C wave will go down too
lower than 28805 so that way we will complete our regular flat pattern
and then we get the impulse up ( 1.27 fibonacci extension around 80k $ ) i'm predicting that for june 2022