greetings o/

as BTC approaches my buy zone ($33,250),
things are starting to get heated in the market.

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let’s entertain the idea where btc invalidates the triangle idea; because let’s be honest – it’s very likely that it will.
there’s plenty weakness in the market, and if it was to drop below the low from jan 24th (32918.7) i could see two potential paths which it could take.

#1 – the green path (my worst nightmare lol)
green projects what we call an expanded flat in elliott wave theory – where the low is breached in a 3 wave move – all the long stops are raided, but a big player buys right into it causing a squeeze to the upside (most likely to that 50k zone).

#2 – the red path (the chill scenario)
btc would basically just continue playing out the impulse to the downside + bounce once more time along the way to form a simple zig-zag .
that zig-zag would complete the larger wxy which had begun back in november.

downside target on both of these sits at 22.8k (the larger wave 4 algo target).

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while i do prefer the triangle, i can’t be attached to it.
so if it was to get invalidated, i would be ready for whatever shenanigans this market was to throw my way.
stop losses are your friend,
cash is king;
stay safe my peoples.

✌