Bitcoin Midterm Analysis --> WXYXZ Corrective Waves
Bitcoin mid term analysis.
As I do think that we’ve finished our ABC correction (check the overview chart on TradingView for that too), I do think we’re currently going into a WXYXZ sideways corrective combination. Why do I think that? Well, that’s simple. We can’t go in to impulse waves straight from the ABC correction. The same way that you’ve seen Wyckoff combinations on the bottom and top each cycle.
This is called the triple three pattern with the WXYXZ combinations, we’re you mostly see 3 wave patterns.
The levels of the W and Y + X’s are mostly based on the Fibonacci levels and the plain conclusion on this is that we’ll be moving towards ATH’s at the end of this year, as I don’t think that the overview 5th wave is over, just that the 3rd and 4th are done yet.
Let’s see how this one goes, will update quite often!
As I do think that we’ve finished our ABC correction (check the overview chart on TradingView for that too), I do think we’re currently going into a WXYXZ sideways corrective combination. Why do I think that? Well, that’s simple. We can’t go in to impulse waves straight from the ABC correction. The same way that you’ve seen Wyckoff combinations on the bottom and top each cycle.
This is called the triple three pattern with the WXYXZ combinations, we’re you mostly see 3 wave patterns.
The levels of the W and Y + X’s are mostly based on the Fibonacci levels and the plain conclusion on this is that we’ll be moving towards ATH’s at the end of this year, as I don’t think that the overview 5th wave is over, just that the 3rd and 4th are done yet.
Let’s see how this one goes, will update quite often!