@xbtWulf I've also tried counting elliott wave impulse down for this drop from 67.2k. No matter how I do it, its just not making sense. It looks like a wxy correction to me. Which means a high bias to price taking the 67.2k top before claiming 59k.
@xbtWulf Only sensible prediction as of now. Its a wxy correction on HTF. Wave w was a 3 wave correction up. We are currently in wave x, which may show a 3 subwave pattern and may take prices a bit lower. Followed by a wave y to ~70k and then an impulse drop
@PharaohOfx@NashSingh_@DynamoXDD Current dip is not impulsive. By looks of it its a wxyxz correction playing out. Maybe part of a larger correction. But surely price will move beyond 67k before heading below 59k.
@rottenAzoth333@DynamoXDD Current move is a subwave 4 correction. I'm expecting it to bounce back somewhere between 63.9k to 64.3k. This bounce will take price back to 67.7k. It would be a nice place to take shorts. But keep enough margin as there is still chance of going higher to 68.1k, max 68.8k.
@rottenAzoth333@DynamoXDD If the move down is wave 5 of last drop → 56-58k. If it is wave B of current correction → Range formation and drop to ~62k. I'm not able to figure out any scenario where we could take 82k in future before going down to ~40-45k.
@DynamoXDD Closed my shorts. Wave B has extended beyond expected fib time. That means that this is not actually Wave B but a next leg up. Slow up but still up.
@DynamoXDD ABC correction undergoing. We are at wave B end. Possibly will touch 64.2k but not reach the previous high. Then a fall should be seen. Minimum target 62.9k. Common target 62k. I'm really hoping it does. My shorts are gonna be in loss if it doesn't.
@Tomterrasi@DynamoXDD As far as I've noticed, Dynamo clearly has no bias - bearish or bullish. He has scalp setups and swing setups which he shares on his private DMs. He does not need to share his ideas to anyone, but does it for free on twitter. I have a lot of respect for such people.
@DynamoXDD Volume has been reducing since touching 59k bottom. And it seems that we are forming a contracting triangle. I’m not entering any trade till a good signal up or down is established. I’m just sick of this stagnation followed by sudden corrections
@DynamoXDD Look at the bigger wave pattern. Since the last drop, its been complicated, but corrective. IMO we are starting a C wave of this correction. It will touch 64.2k and may go higher, then reversal bellow.