BTC made an impulsive leg down from 19.5k to 5.8k in the first 2 months of 2018 which was W wave. After that it has been in consolidation moving sideways ie correcting the big move down before the next impulsive leg down to make the bottom.
The X wave is becoming very complex and it will most likely form a flat since the first wave off the Feb low was 3 wave move.
Any possibilities of X wave triangle have been eliminated by the break of the lows in May.
The B wave of the larger flat was quite complex, within itself it had a running flat.
Expect a new low from here and then big and final bounce to test the previous highs around 12k before the final capitulation taking us down to lows and accumulation.
The X wave is becoming very complex and it will most likely form a flat since the first wave off the Feb low was 3 wave move.
Any possibilities of X wave triangle have been eliminated by the break of the lows in May.
The B wave of the larger flat was quite complex, within itself it had a running flat.
Expect a new low from here and then big and final bounce to test the previous highs around 12k before the final capitulation taking us down to lows and accumulation.
