BTCUSD bearish ABCDE correction. Bitcoin to test 3450 ?

One possible scenario that is looking more possible each day.
The climb from 3655 looks corrective with overlapping waves.
Thus it fits more of an ABCDE correctiion than 12345 Impulse.

Each leg up was a 5-wave Impulse, common enough.
Each rise was met by an ABC correction, also normal.
Second rise (B to C) had lowest gain, ruling out Impulse.

Alternative View:
My plotted ABCDE 'could' be a 12345 in the making, as in:
the plotted X-A could be wave 1,
the plotted A-B could be wave 2,
the plotted B-E could be wave 3,
with a wave 4 down and wave 5 up to come?

In either scenario a downturn right now, or very soon, becomes highly likely.

评论:

Update on developments in the detailed chart (left side)

Super clean bounce off the 3.618, and now struggling against the 5.236. But that might break, so the 5.618 will be next line to watch. I am reallty doubting it will get past the 5.618, assuming we get past the 5.236 already enforcing itself.

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