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RE: Bitcoin (BTC) Morning Update: Triple Decker Inverted Head & Shoulders
I think this is the path it will follow (Chart of BTC/USDT - Binance) :-
(1) Wave 5 (and correction Wave A) to complete at around 12.4 - 12.9k, Expected 22-23 Feb.
(2) From here could start the B wave which would make a wonderful right shoulder. This could be confirmed by the High volumes there. Wave B completion expected 26-28 Feb. This would be a fantastic buying opportunity again, not to be missed. Could be extended to the first week of March.
(3) Wave C starts from here for a target of 17 - 17.5 k..
Learnt all this from haejin. Let me know what you guys think. I am quite convinced and am going to trade accordingly.
Cheers !
Very nice channel. Any ideas on the EW coun prior to the ABC?
I studied it carefully. I have my doubts because I cannot find wave 4 to be lower than the bottom of Wave 1. This gives me a feeling that Wave 5 of the downtrend is yet to play out. I have pasted both the scenarios here, what do you think @haejin
Scenario 1 (Sacry Bottom target) :
Scenario 2 (Bottom already in for the time being - Wave Count - But Wave 4 is higher than low of Wave 1 or very close) :
Let me know what you think.
How To Easily Trade Ethereum/USD on the Daily Chart!