BTC Wave AnalysisBitcoin all time history indexINDEX:BTCUSDTheGemHunterPotential Ending Diagonal It appears that BTC may be forming an ending diagonal within the 5th primary wave; the most common place for an ending diagonal. We are potentially in Wave-4 of the diagonal and have reason to assume that the minor wave b is printing to the upside of (abc) to the downside. 1-Day Chart It's plausible that Wave-4 of the presumed diagonal is complete, but price action on a lower time frame is telling another story. On the 1-Day chart a corrective ascending wedge is printing in 3's. And, after the correctional pattern is complete, the original motive can continue. 👇👇👇 ...on the 1-Day chart we can see the 3 wave move to the upside that forms (c); and appears that price is currently printing (d) to the downside. This correctional pattern is showing impetus that the structure is underway. Interesting enough, price is weaving through a demand/liquidity line with selected pivots from the candle bottom Monday 21st of November '22 and Monday 26th of December '22 on the 1-Week chart. However, there is a MACRO demand/liquidity line beneath with selected pivots from candle bottoms Monday 9th of March '20 (covid crash) and Monday 21st of November '22 on the 1-Week chart. These liquidity lines tend to act as magnets to price and have highest opportunity for change in momentum. Favored Scenario Taking the ascending wedge of the 1-Day chart into consideration and how price action is responding (shooting star) to the 0.382 of the presumed wave-a (red star), it's possible that a retest of the lower trend line will follow. If so, the green liquidity line (macro support) is a very significant zone, price action around that area is vital. For the bullish case, we are looking for wicks/v-shape recoveries through that area. I have plotted an additional liquidity line (yellow trend line) that has proven to be a high liquidity zone; Wave 2 bottom of the diagonal. If this TA plays out, it's possible (and common) that Wave 5 of the diagonal can overshoot the trend line. Slightly above is the 1.618 retracement from last bull market top to bear market bottom. Look Out 👀 If price action continues down underneath these significant liquidity levels and starts getting rejected, it could mean trouble for BTC. Good Luck! This Publish Is Intended For Educational Purposes Only