This could be an EW-triangle developing. Triangle on support level = bad!
A little hopium:
Could this be the bottom? Yes. Is it likely? No, because this is literally the only bullish count left... The fact that BTC is staying below the green indicator zone in a bull market should be a huge warning sign!
.png)
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
Please consider leaving a comment, like or rehive, if this post entertained you or helped you see things differently...
Have a nice day :-)
Updates will only be posted on HIVE !!!
#bitcoin #btc #crypto #cryptocurrency #cryptocurrencies #steem #sbd #ethereum #eth #ripple #xrp #bitcoincash #bch #eos #litecoin #ltc #stellar #lumen #xlm #digibyte #dgb #cardano #ada #iota #tether #neo #tron #trx #omg #verge #xvg #bitshares #bts #nano #monero #xmr #dash #ethereumclassic #nem #binance #binancecoin #vechain #tezos #omisego #steemit #money #life #altcoin #altcoins #trading #investing #investment #investments #forex #forextrading #market #finance #gold #silver #commodity #commodities #stock #stocktrading #stockmarket #facebook #fb #apple #aapl #spx #xau #xag #usdjpy #usd #amazon #amzn
Do you think it's possible that the drop from the high to $30k is wave 1, 2, and 3 (instead of abc) and we are currently consolidating on wave 4 waiting for another wave down?
Yes, that is one of the alternate counts. But believe me you don't want this to be the correct count. It could kill the S2F model and it could initiate the biggest correction in BTC history. (does not have to, but the probability would increase by a lot)