8 Jun 2021 ● 08:01 AM
After doing today's video it is important to post this chat. It is still possible that Bitcoin is still in wave 4 down and forming a triangle down there. The Bitfinex chart shows the range of the triangle as broken but this chart of BTCUSD does not, as the low traded during the panic was 30261. What this means is that if prices do not fall further, and so far the fall is 3 waves, it could be part of the ongoing triangle that is forming near the bottom and we will still go higher in wave C. I do not think the fall today is conclusive.
The chart that really needs EW work is the next one. If you have not seen it this is the historical chart from 2011.