/biz/ - Business & Finance

Hope no one is falling for the bull trap. In a day or so we will be completing the final wave down to the buy zone

>>5372144

REMINDER THAT THIS IS THE BULL TRAP

thoughts? not mine

I marked up some potential of where BTC could go in the near future to potentially help you get some sleep.

It looks like it just finished the first portion of the A-B-C corrective structure. I believe there is going to be an up move soon, which will rebalance the indicators and then back down to complete the correction.

Corrections typically finish at around the 4th wave, which is why I set the final target to approximately $5,883-$7634 (also set the targets here due to fib confluence)

I wanted to quickly state that the correction will most likely not work out this smoothly. There are several corrective structures, so guessing which one its going to take right now is a bit difficult. I assume its going to be a 5-3-5 zig-zag structure, but It's probably going to be a bit more complex.

This being said, as stated in the Elliot Wave Principle: "When you have eliminated impossible, whatever remains, however improbable, must be the truth". This is scenario 1, however you should also analyze different scenarios so you are prepared for all outcomes.

Hopefully this will put your mind at ease on where BTC could potentially go. Don't stress, just ride the waves