BTC: What If this and That...

2. Aug. 2022

Bounce could stop here at .386 if it decides to, BUT, if it decides to move up (higher percentage), measure the 2nd leg. If you're in a long trade, you can figure out if this current move up could be an impulsive or correctively. Any hard rejection from 1 to 1 or to 1.386 will be considered an ABC. (Rarely 1.618 but should over shoot the 1.618 buy a dollar) but if it rejects at 1.618 or slightly above would be considered impulsive move. Which means a triangle or flag move will appear before the 5th wave. With all the information, you can plan accordingly. There are so many trades just off of this information; scalp the 4th wave short? playing the end of an ABC correction up? Wait for the 4 wave correction and play the last 5th wave? and so on...