BitcoinUpdated BTCUSD - Textbook Irregular Flat
Textbook! Started at the top with a Ending Diagonal. Finishing at the bottom with an Ending Diagonal
First wave of correction ending soon at 0.5 - 0.618 correction.
Could be up for a new 5 wave impulse or an X for an XYZ combination further down
First wave of correction ending soon at 0.5 - 0.618 correction.
Could be up for a new 5 wave impulse or an X for an XYZ combination further down
Note
From our friend Mr Elliot and Frost:"Ending diagonal triangles indicate exhaustion of a larger pattern that moved too far too fast. Ending diagonals are usually followed by a quick thrust which retraces to the starting level of the diagonal."
This means that we would expect to see a quick return back up to the start of this, which was 11.5k.
I will now buy back in full when I see the end of this pattern.
Note
Updates here:
Note
Further updates here:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.