The current trend of BTC is very weird. What was once a possible wave 2 pullback is now invalidated and where is we going now?
The structure of Wave C to me looks weird to be a regular impulse and could be a potential diagonal. If this is the case, the final target of w5 of diagonal matches nicely with the 50% retracement of the last major impulse to the downside before this ABC correction.
Just an idea and we must see an overlap of w1 and w4 before we consider this as a promising alternative & subwaves matches the bigger structure
The structure of Wave C to me looks weird to be a regular impulse and could be a potential diagonal. If this is the case, the final target of w5 of diagonal matches nicely with the 50% retracement of the last major impulse to the downside before this ABC correction.
Just an idea and we must see an overlap of w1 and w4 before we consider this as a promising alternative & subwaves matches the bigger structure
microstructure to show wave 1 is a 3 wave stucture