Firstly I supposed ABC zigzag correction. After I thought that it could be the flat correction. Today I finally understood what market wants to tell us.
Hello, everyone!
Recently I tried to guess which form the Bitcoin will choose for the wave 4. Firstly I supposed ABC zigzag correction. After I thought that it could be the flat correction. Today I finally understood what market wants to tell us.
The first bounce after wave 3 ended exactly at 0.5 Fibonacci retracement level. This is the maximal natural correction for triangles. Triangles usually happens in waves 4 or b and we have the wave 4 now. I considered flat correction but in this case we have to see the impulsive wave 3 to the upside inside wave c, but we still did not.
I think that BTCUSDT is about to form d and after that wave e before the wave 5 to the downside. I decided to re-open short (at the same level where I closed it) and wait for the minimal wave 5 target approximately at $15k.
Best regards, Ivan
