Market Eagle
Market Eagle 2 minutes reading from Bitcoin

Is There Any Reason Banks Shouldn’t Claim a Wave?

BTC EW are useful but not very often. Some big account see a final macro wave 5 in the next few weeks(!). Invalidation is near (13950) and probably their Stoploss. I don't see any evidence to claim a wave 5. We had a bearish macro W-X-Y alternating pattern. The question is...

What is it we are looking at after Y wave? It's a complex corrective structure without doubt. It's the beginning of a macro B wave or macro Z-Triangle imo. Lets have a closer look in micro waves...

Chaotic complexity in it's pure form and a lot of room for interpretation. But we can speculate and try a process of elimination. We have to look even deeper...

The SBF_FTX sell-off was

an impulse followed by another corrective structre. Following conclusion can be made... If it is the beginning of a macro Z-Triangle we see the invalidation for wave 5 and even last bulls turn bearish. Max pullback would be 22800 before further decline.

Or it is an expanding flat as macro B in progress. In that case Y can't reach more than 28000 incl. spike. The only problem with that is macro C wave would go below 0. Ain't goona happen.

To put things right.

1. Here you see how silly it is if that is ment to be the only tool. 2. EW can support thesis. 3. Wave 5 and imminent ATH is highly unlikey and shouldn't be propagated. 4. I could always be wrong.

This post is based on this twitter thread.

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