BTCUSD evening analysis
Bull and bear counts for BTCUSD.
I think price action from 6 September 2024 to 13 November 2024 can be drawn as a complete impulse, with an extended wave 5.
If the above is true, then the question is whether price action from 5 August to 6 September (blue ellipse) is impulsive or corrective. To me, it's hard to see either a standard or leading diagonal impulse.
Bulls who missed the break to new ATHs after the election or what to add to their position would likely see price from 73016.50-83796.28 as an opportunity to enter/add.
Bears likely see a bull trap with 93423.51 as their stop and much lower prices ahead.
I think price action from 6 September 2024 to 13 November 2024 can be drawn as a complete impulse, with an extended wave 5.
If the above is true, then the question is whether price action from 5 August to 6 September (blue ellipse) is impulsive or corrective. To me, it's hard to see either a standard or leading diagonal impulse.
Bulls who missed the break to new ATHs after the election or what to add to their position would likely see price from 73016.50-83796.28 as an opportunity to enter/add.
Bears likely see a bull trap with 93423.51 as their stop and much lower prices ahead.
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