As you know my main scenario now is the small dump to $15-16k as the Bear market wave 5 end the new bull market or rally after that, but today I wanna show you the alternative scenario which is the reason I have 30% in crypto.
Let’s take a look at the 1D timeframe BTCUSDT chart of the WhiteBit exchange. Here is my main concern represented. According to the trading chaos theory the wave 4 usually is the longest in terms of time wave. If we suppose that wave 4 ended at $25k when the strong short signals flashed it means that the wave 4 was the shortest one. Of course it’s also possible, but if the statistics tells us the truth we can expect another one pump to 28k before the final dump. Of course I don’t want this scenario, but it’s the market.
In considered case wave 4 could be represented as the flat correction – the worst wave’s 4 form which we can imagine. In this formation we can distinguish wave A which is represented as a zigzag ABC, wave B – also zigzag ABC and now we can wait for the 5 waves cycle inside the wave C, which will break the wave A high. If it will happen it’s obvious that the market will crash dramatically to $15k, but the bear market will be longer in this case.
Best regards, Ivan
Trade on WhiteBIT! Use this link to register and receive 40% of trading commissions from your invited users!