BTC expanded flat for wave 2

8 ก.ย. 2023

I'm only short for BTC near term until this wave 2 finishes Sep-Oct. Once it completes this wave 2, I'm bullish.
Scenario 2 for me is the expanded flat.
Scenario 1 is a Sideways Double Combo, barely. I'll post a chart link below.
I realize my wave B is a low probability due to the terrible (a) to (c) relationship, with an ending expanding diagonal to boot.
I could have run with a wave B flat.
Statistically, flats do occur in the wave B of a flat roughly 10% of the time, according to the work by Rich Swannell.
If I used the flat, it would then incorporate that upper chop anyway into a ugly wave-c. And wave 4-5 of the "c" is out of ratio to wave 1-2. So that seemed like stacking low probabilities. I saw it as pick your poison.

8 ก.ย. 2023

บันทึก

I put yellow Intermediate wave labels (1) (A) (W), as there is a possibility that BTC pumps up to finish a macro correction, then another lengthy bear market starts. So I keep those there to remind myself.

8 ก.ย. 2023

บันทึก

So here is the Scenario 1 . I think my friend PK shows it best.

9 ก.ย. 2023

บันทึก

My chart Scenario 2 is trash guys. I have a minuette wave (iii) as the shortest wave. I totally overlooked it.

9 ก.ย. 2023

บันทึก

Nevermind. My chart is valid. Wave (iii) is not the shortest.