Long

BTCUSD Trangle pattern 1245 waves and ABC retracment possiblity

By PewPew2018

Updated

chart speak for itself i wonder if we break out of this wedge and we start a bull run it could
also go down and do an extended ABC, i think the break out of this triangle might be a big
bull run moment or we extend our ABC again until we break the trend.

Good luck to bears and bulls :))

Note

This is on a 1 day chart

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We are nearly at our support point which is the bottom of the triangle C we are hoping for a break out of the triangle close to the apex and see if we go for new wave 1,2,3,4,5 impulse wave bullish or we go and break through our support and go directly into either ABC extended wave that is my own opinion..It's definitely worth watching
if we break through the support of the bottom purple support or we head back up
to test the resistance RED lets see how this plays out from here.

Please feel free to help someone who is trying to get into trading one step at a time guys keep up the great work.Bulls and bears best of luck

BTC -2.53%
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32j6cU8RXK9A5EqCPoPU5u5GTpVt1Pu8Vh

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the C wave actually pierced the purple support line and bounced :) let's wait and see it went bullish as soon as it hit bit could break the line and bounce but its close..We will have to wait maybe the next few days.

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We fell out the bottom of support which has been in play for a very long time, maybe we will bounce at the lower level :(( Not a good situation im going to give it a little longer to see if we go back into play.Some support levels of interest are $7180 We might get a double bottom and bounce upwards or downtrend the support line is off a little if you look at a lower timeframe. !!HODL don't give your coins to the bears.

Note

Could we be looking at an A,B,C,D,E retracement?It fits and E is on the very bottom support line of the triangle. Who knows i don't think the sport line has been broken yet as far as i can tell, there is massive indecision at the bottom line of the triangle i think by the end of today we will know if we are going to go bullish and break out of the triangle or stay bearish and fall below.

Note

The possible double bottom could signal a change
in the market direction, Just an idea i wanted
to put out there.

Note

So we retraced more than i thought but we are seeing some bullish action not much to get excited over :) If this does not hold above $7200 we are going to 5k i believe..:(

PewPew2018

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