POSSIBLE BITCOIN BREAKOUT SCENERIO UNFOLDING?
Hello Fellow Steamians and Crypto Lovers...
Today I would like to show my growing evidence that we are indeed in a third wave Elliot wave move...but are literally making a lot of wave 2's on smaller and smaller degrees. When it is done with making all of the Wave 2 waves there will be a burst to the upside. Here is my evidence.
Below we have a Daily Chart. I just want to point out the CYCLE AND PRIMARY WAVES on the Daily. Basically the Red and Blue waves counts on the chart. Ignore the condense smaller degrees... i will zoom in and explain those shortly.
As we can see This whole thing is Literally one big ass Wave 2 of Cycle Degree noted in with Red lines. The blue primary trend has also finished it's second wave... it is noted in blue.
We will just to a 4 hour chart now to explain what recently happened.
The Minor wave is a little difficult to see on this chart... have no worries i have an hourly for you as well. Anyways what we see is the Blue Primary wave 2 ending and the Intermediate wave in Pink just is possibly just ending it's wave 2 Today.
Lets get to the Hourly...the most interesting Time Frame of the day.
As we see the 5 wave count of the minor Degree going up to complete wave 1 of the Intermediate Degree...Then we see a Minor Degree ABC which is wave 2 of the Intermediate Degree. This could mean that we did a bunch of 1,2...1,2...1,2 and 1,2 counts. In Elliot Wave that signals a huge Ass move is coming and will likely last for awhile until all these wave degrees Including Cycle degree has reached wave 5. I believe we are on the cusp of a massive third wave.
We also See Divergence in both indicators compared to price.
Here is just a zoom in on the 30 minute chart to show the 5 wave move down on the Minute Degree to complete the C wave of the Minor degree and wave 2 of the Intermediate Degree.
All these wave counts to me follow the Rules of Elliot wave and appears to be setting up for a big move in my opinion. However who knows.
I just know this is a very new market that has potential beyond most people's wildest, wettest dreams.
I hope i explained myself well. And i'm hoping we are done with all these smaller Degree wave 2's. That way we can see some fireworks return to this market.
Also note Mass adoption has not taken place. that means there is still time to get into this soon to be on FIRE MARKET in my humble opinion.
If you have any questions please ask below in the comments. and if you enjoyed or found this information useful Please Upvote or Resteem. It will be appreciated ALWAYS.
Till next time. Have a great day Steamians