RE: My high probability EW count for BTC
Thanks as always for sharing your thoughts.
You are ultimately proposing an extremely bullish setup with this count if I am reading it correctly. In my mind that would be the healthiest scenario for the long run.
I am curious about how this longer term outlook intersects with your previous update from last week though. You had mentioned in a comment that if we have a weekly close above the $12k mark in the short-term that it would signal a new bull market. In my mind, a new bull would imply new ATHs without a lower low, but this analysis shows that a lower low is likely and that ATHs would be months away at a minimum.
I am mostly curious to know if your outlook has changed at all or if this is just a difference in projection horizons that I have noticed. I.e. 12 day, 12 wk, 12 mo
As anybody else I may be wrong. Especially with EW analysis. But there are certain points which make me think that we are still in correction:
All solid points. Plus, the weekly chart for BTC just looks like it is begging for a C wave down.
It's always possible that the accelerating adoption/speculation rates could keep the bull running, so it'll be fun watching things unfold.