This is exciting to be honest. 🤑💰 I have 3 slightly different scenarios to end this wave Z and with it the entire correction of the crypto market.
The first one is actually shocking, because the low could be in, and I have not bought cheap steem yet 👎👿:
The second one means one more low to come:
The third one means two more lows to come:
This is the big pic (yellow Z equals white Z):
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I like the first one. RSI lowest in four years or so...
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RSI can stay in extremely oversold or overbought for more than a month. Worst indicator in my opinion.
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Yes, that's true, especially for shorter time frames, but for long term it can be a great help. Let's see, how this will come to an end. I think the end is near and not only because I wish it to be :)
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The numbers are the numbers. It's doesn't know how to lier. This is something that the human bean do. Let's to see what happen...
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2nd scenario is most likely to me, although there are a few charts to me that look like they have bottomed that make me think BTC May have bottomed also.
👍🙏
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Btc will up again
Posted using Partiko Android
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I really like the third scenario. Let's see how things go.
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Hey,
That third scenario you show doesn't match too much with the EW rules and Fib levels, as 4 overlaps with 1 (I know it's an approximation), but if it would have the 4 not overlapping with 1, wave 5 would end up around 3600 - 3700 levels.
The other 2 also don't fit too well with the usual Fibs for waves 1 to 3...
I would say this drop to under 5500 should be taken as part of a previous bigger wave, to fit in the usual Fib levels.
But just my opinion!
Cheers.
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The third scenario matches perfectly well with all EW rules. In an ending diagonal (3-3-3-3-3) it is actually a requirement that 4 overlaps with 1. Without this overlap it cannot be an ending diagonal. This is not my opinion but a rule.
Fib relationships between waves are an approximation based on probabilities. They can be much shorter or much longer than the common ratios without breaking a rule.
I am interested to see your count though. Cheers
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Hey,
You were right, I didn't realise about the diagonal!
It's actually looking like the closest prediction to reality, let's see if it bounces from here or we go lower.
Cheers.
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