Technical analysis by Oxjonk about Symbol BTC: Buy recommendation (8/31/2024)

My personal opinion is that the past liquidations that occurred recently was locally max pain. This is my decomposition of the recent chop since Aug. 24, it didn't make sense to me until this morning (basically more data = clearer picture) This looks like a running flat corrective wave 2 to me. Worst case scenario it *could* turn into an expanded flat by seeing some more downside; however, I believe that the bottom is behind us. Only path forward is to see ATH's next. I don't know when, but based on my analysis using Elliot Wave Theory it seems unlikely that we see lower than we have already seen.