This is now my favored count of this mess:
This means, that the downtrend in BTC could end very soon.
A short breakdown and we will be done (hopefully).
short note: theoretically it is possible, that todays dump already has completed wave Y of Z of 4. We made a new low below W, so it would not even be a truncated wave Y.
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Surely we are coming to the end of the bear run at this stage. Things have levelled out nicely for the past month so looking forward to that up turn.
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Hey EW,
Is it possible you can do a breakdown of BTC on the smaller cycle/1hr chart.
Also what kind of wave pattern is most likely for this Y wave (is it wxy?)?
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Any wave pattern that is only 3 waves can happen in this wave Y. Zigzag, flat, triangle or combination. Very hard to predict at this stage. But the fact that we had only wxy in this pattern let's me believe that the last one will be wxy as well. So wave w could be done right now and we might be in wave x.
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Thank you for the update
Looks atm like it might pop up a little again before the drop?
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Yes. And if this little pop up brings it above 6655 it could mean that the correction is over. But for now I don't expect more than 6400.
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Thanks for quick response, this correction has been so drawn out. Driving me mad! Lol I sold some yesterday, hoping to be nimble through this but not sure if made right move or not..
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I think we can go to 6100-6000 before any upward movement above 6500.
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