BTC Medium Timeframe Analysis
A lot of choices, but I am here to give the higher probability scenarios that I believe is going to be playing out. First scenario is working on the idea of everything being prioritized as 3-wave structures, then three diagonal ideas. ENJOY!
Diagonal Variation (1)
Let's talk diagonals. There are currently three ways we can see the diagonal, and in order, are the ones I find the highest of probability scenarios. I believe just due to the nature of the bounce we had on the recent lows, we got to treat it as a 5-wave.
Diagonal Variation (2)
This diagonal as another completion looks great - but breaks trendline structures which can't be accepted; however, I can probably allow it if everyone else does. This has the best overall look and would be my primary if it weren't for subwave 3.
Diagonal Variation (3)
Another diagonal variation where the remaining timeline is now bearish. We are looking for lower levels. Diagonal is acceptable, but the following 1-2, 1-2 is too low of a probability. The move up we just had is most likely a 5-wave impulse.
Every scenario above leads to higher levels, then eventual fall to lower levels. So I would treat it as such:
Shorter Timeframe: Bullish Medium Timeframe: Bearish
Every scenario above, invalidation would be 18,100 where I will reevaluate everything again.This post is based on this twitter thread.