BitcoinPanjang
BTCUSD Update To Timeline - Possible Ending Diagonal For Bottom
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This is a time update to my last H4 chart as this is taking forever, as Ending Diagonals typically do.
Primary count is in blue , where we could be in wave (v) and any new low could complete this final move....ending in a trust up.
Alternative count is in gray, where we are only just completing wave (iii).
Notice the positive divergence at the bottom. This move down is running out of steam.
Painful...either way you slice this.
If anyone can tell me how to drag a trendline without it changing its length, aspect or angle, I would greatly appreciate it.
Primary count is in blue , where we could be in wave (v) and any new low could complete this final move....ending in a trust up.
Alternative count is in gray, where we are only just completing wave (iii).
Notice the positive divergence at the bottom. This move down is running out of steam.
Painful...either way you slice this.
If anyone can tell me how to drag a trendline without it changing its length, aspect or angle, I would greatly appreciate it.
Nota
Was that the end with Throw Over? Also, a Leading Diagonal MIGHT be in off $4305. Only time will tell. We need more upside to keep this outlook.Nota
5 min chart for Leading Diagonal.Nota
Possible inverse Head and Shoulders pattern too...to support wave 1 up as Leading Diag.Nota
This is the time to be careful being short. If you overlay BTCUSDSHORTS over this chart, they are skyrocketing and nearing at all-time highs. The sheep are usually wrong all the time. Look at historic BTCUSDSHORTS and BTC price action...the proof is there. At nearly all highs, shorts were at an extreme low. At all lows, shorts were at an extreme high. We are nearing the latter. Sentiment is at an extreme bearish level....or nearly so.
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