PAYBTC seems to be forming a triangle.
A triangle most commonly forms in the wave preceeding the final wave of the pattern.
This could therefore be a wave 4 of wave C in an ABC correction.
If correct, we have one more drop left to the box which will then complete the pattern. From there price may rise again.
Trade with care! :)
A triangle most commonly forms in the wave preceeding the final wave of the pattern.
This could therefore be a wave 4 of wave C in an ABC correction.
If correct, we have one more drop left to the box which will then complete the pattern. From there price may rise again.
Trade with care! :)
Note
Seems like we broke down from a descending triangle in this 4 of C into the support box.From there the price action looks impulsive.
This could very well be the bottom.
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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.