Now that my bear scenario is off the table, I was looking for an alternative bullish cycle other than the one I posted before, which I will link as related idea below..
A more possible scenario in my mind would be a midterm 5th wave extension might be in due. I highlighted the important gann trend lines that would be acting as S/R and put in some fibo levels to confirm what the prices and the structure would look like if 5th wave extension is the scenario we should be looking.
Levels wouldn't be perfect like in the picture of course but the structure should somewhat be similar. Its really hard to predict the future and I'm not the elliot theory expert, this is just for my study purposes.
The most important thing in the crypto market is the TOTAL marketcap chart and the way I see it, alts will be following BTC's lead so arbitrage with some alt vs btc and your portfolio should be green till the end of year :)
Peace
A more possible scenario in my mind would be a midterm 5th wave extension might be in due. I highlighted the important gann trend lines that would be acting as S/R and put in some fibo levels to confirm what the prices and the structure would look like if 5th wave extension is the scenario we should be looking.
Levels wouldn't be perfect like in the picture of course but the structure should somewhat be similar. Its really hard to predict the future and I'm not the elliot theory expert, this is just for my study purposes.
The most important thing in the crypto market is the TOTAL marketcap chart and the way I see it, alts will be following BTC's lead so arbitrage with some alt vs btc and your portfolio should be green till the end of year :)
Peace
Note
if this scenario is valid, 3rd wave should be completed by now and BTC should go for a consolidation. Need to watch closely. Will check other scenarios aswell.
Note
the consolidation should end near $51300-$52500 area. Which is also the target of H&S pattern formed in 4H. After that we continue the journey according to this scenario
Note
in case of a more bullish consolidation we stay on that gann trend (purple). need to watch closelyNote
purple trend held well. My other bullish btc scenario might be in play its definitely looking good. keep pumping :)Note
this one is a minor support now (purple trend). If this holds I would recommend following my other bullish scenario - 
Otherwise the real support seems to be around 52k. So far projection seems valid to me
Note
This scenario is still valid, I'm expecting a huge move soon. BTC might sweep that blue dotted trend support around 51-52k area and make its move, we already tested the red one. Decision within this week probablyTrade closed: stop reached
well the retracement was too deep for this scenario so got invalidated
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.