this is how i see it, its Such a textbook structure from wxyxz 105819 correction vs 110500 correction (current)
Unless it develop more, we should expect just another X and Z.
wave Y in elliot rules is the one which should not pass end of W. That is why it stop before W (102664) if we can label the drop to 103300 as Y.
But Z can. So it could pass 102664. Except at some cases it become a closing correction with less strength and truncated, it might fly from there like another picture below.
Quite complex correction to correct just a 10k rise from 100372-110500.
What these people (big money) wants that market forced to form this structure?
WXYXZ is the most complex and exhausting corrective structure in Elliott Wave Theory. It's made of three corrective waves (W, Y, Z) connected by two X waves, which signals that the market has tried and failed multiple times to trend, until exhaustion finally kicks in,!
➤ And.. I saw 3 B volume when btc at 102664.
Psychologically, WXYXZ is the most mentally exhausting form of correction.
The market chooses WXYXZ when a simple correction isn’t enough — it wants to stall for time while still staying in corrective mode, right in the middle of a transition phase between two major impulses.
Exactly like what we’re experiencing now — between Wave 1 and the start of Wave 3.
😵💫⏳📉
Dealer behavior or manipulation is present
Distribution or accumulation is happening behind the scenes
A massive move often follows once Z finishes.
Let just pray for wave3~~
