Technical analysis by limitlessroh about Symbol BTC on 1/4/2024

BTC current wave analysis (update 1/4/2024) -To complete an impulse from 15K, there must be at least three more ups and downs between 40K-48K to finish wave 1. -Because the wave from 32.5K cannot be counted as an impulse, I expect an ending diagonal. -32.5K is the starting point of the current ending diagonal because of the correction size between 35K-32.5K, which happened Oct 23rd. -To be an impulse wave, there should've been an impulse or a wedge between 35K-32.5K correction and the next bigger correction. -The next bigger correction was 38K-35K from Nov 9 to Nov 14. -The wave between 38K-35K correction and 35K-32.5K correction cannot be counted as an impulse. -This leads to the conclusion that the wave is wedge-ing. -Wedge B is always the biggest & fastest wave within the wedge. -My initial expectation was the pink wedge on the left chart. -The current -12% drop on Jan 3rd is the biggest correction so far since the 35K-32.5K correction, being eligible for Wedge B. -This correction(purple B) also bounced off at the Fib 0.618 level of 32.5K-45.9K(purple A) run. -I will trade based on this scenario as long as BTC doesn't break below 32.5K.