Took a harder look at the surge in the price of bitcoin. It turns out we may have a running double three (WXY) for wave 2.
W is a flat, X is a zigzag and Y is a triangle. And the end of wave 2 is higher than the end of wave 1, thus we call this double three combination a running variation. A strong and powerful wave 3 should follow next with at least 1.618 of wave 1. It could be 2.618 of wave 1, but it definitely will be an extended third wave.
W is a flat, X is a zigzag and Y is a triangle. And the end of wave 2 is higher than the end of wave 1, thus we call this double three combination a running variation. A strong and powerful wave 3 should follow next with at least 1.618 of wave 1. It could be 2.618 of wave 1, but it definitely will be an extended third wave.
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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.