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RE: Bitcoin (BTC) Morning Update: More Detailed Explanation of Triangle vs Bear Flag
I believe you mixed (3) with (5). you have a very obvious correction in front of you, thats already an indicator. and for counting the subwaves that would confirm (1) and (3) you simply need a higher resolution.
also you clearly struggle when it comes to label the correction, and thats because you cant rely entirely on EW but must apply pattern-recognition as well.
I can accept that, but where do you see the 1 and 2?
Interesting. Is that a daily chart?
yes
i didnt open the chart but from your screenshot i would say that 1 & 2 are correct, simply change the postion of 3 & 4 and put 5 on the top
Also, the man himself called it wave 3. I know that he has revised waves before, but it really does seem to look like wave 3.
Post from last month:
that's why I don't like to strech the 3 to much, I always use the 1,61 fibonnacci and when price is near that point I keep an eye open.
one main lesson you should have learned by now is to remain flexible.
anyway seems haejin quit nailed it with his call and I guess the reason why haejin has chosen not to put (3) lower is that it might almost be shorter then (1), so from this perspective I would agree with his count as well.
maybe some more inputs from the community?
Input from the community would be great! Upvote my original post to get some more visibility. I upvoted yours, so I'm not just out for the steembux
done :-)