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RE: BTC morning update 14.05.18
Because now it is about to become is a five wave movement. If it happens there is only one chance out of 34 that it might be a complete correction (WXYX2Z). If it is not WXYX2Z, then it must be a bigger correction. The most common correction is a ZigZag (5-3-5) which would likely take the whole month of May.
I shall then watching it closely then for a possible good entry point.
"If this is correct, the buying zone is in the range of 8,400 - 8,000$." - You wrote that last chart.
Now you write above " If BTC drops below 8200, it will likely fall down to 7800 and complete 5 waves of wave A. That means the correction is not over and could take the whole month of may, or even longer."
So first post you say buy range can be 8-8.4K, then you say if it goes below 8.2K probable longer correction.
I'm sure you can see my confusion. Care to elaborate and help?
I tried to explain it to you. You don't seem to understand. 8-8.4 buy zone was for a complete correction scenario which is still valid. As you can see price bounced @ 8200.
If 8200 is breached the scenario is invalid. It's not that hard to understand.
There is no 100% guarantee, I usually post the most probable scenario at the time of posting. I usuall have 3-4 different scenarios in the back of my mind for when the invalidation point is reached.