Wave 2 progressing
First the daily chart with Elliott count.
A bit more detail on the 8 hour chart. We went a bit further down than expected in the red b wave. Although without ruining the count. So far it all still looks like an ordinary upwards correction within the larger, sideways to down wave 2. While it's possible that this is the start of the new bullrun in either wave 3 or an extended wave v of 1, I dont't think it is. I have however closed half of my put options because I do expect a move up towards the downsloaping resistance line.
Renko chart also in a correction, BB not in sight yet.
Indicators
Weekly: correcting down
Daily: oversold but no divergence
8 hour: Turning up from oversold, no divergence
Conclusion:
Short term, bullish
Medium term, moderately bearish
Long term, very bullish
If we don't see crazy gains in the next two weeks, I have to 100% agree that we are in wave B or X of wave 2...
Don't like it, but that's what it looks like.
For some reason the parabolic moves up tend to start after the halving, not before. We are too early in the cycle (assuming there is such a thing) to move up strongly. That said, an extended wave v of 1 followed by a steep correction would be a possibility.
I was counting on that extended 5 before the halving until today.
It is big move up soon or boring wave 2 now.