BTC exceeded 81% of wave (a), meaning it's not a ZigZag. FLAT is considered. In normal FLAT, wave b returns 81 to 100% of wave a. Wave c returns 100 to 138.2% of wave b. This would mean that wave (c) will end in the range 3148 to 1602. The internal structure of wave (b) is also normal FLAT . 138.2% of wave c is 18705. We should not overcome this level, otherwise it would be a different structure. We see that huge greed prevails in the market. This is confirmed by the Fear & Greed index, which is 94 today. The last time we got above this value was at the top of the wave a at 13880.
Komentar:
The NVT indicator shows 195. From history we can see that whenever this indicator was red, a correction came. The last time this indicator was so high was 26.6. 2019, ie at the top of the wave a.
Komentar:
CME Futures
Komentar:
Invalidation level by type of FLAT. In all cases, wave (c) reaches a new low unless it is (c) a failure.
Komentar:
From this it can be concluded that we must reach 26,000 to make sure that we do not reach a new bottom.
Komentar:
Wave (b) is completed
Komentar:
Expanded FLAT? BTC overcame ATH for a while. We can see a huge bearish divergence on the Daily. In order to talk about the bull market, we have to overcome 26,000. If that happens, the market will be overbought out and a correction must come. Then we can reach a new maximum. I don't think that will happen. He is currently in the game Expanded FLAT. The same thing happens with the S&P 500.
Komentar:
At NVT we see that even the correction didn't help and we didn't get out of the red.
Komentar:
The Ending diagonal structure appears to form at the top. Everyone is already celebrating the bull market. This is the moment that has been waiting for everyone to believe in the bull market.
Komentar:
Final Phase
NVT - 201
NVT - 201