First, Mr. V stop plagiarizing my work!
Originally I called for the wave 4 (purple) to be an "expanding flat", but I believe that it is morphing into a triangle to help digest this challenging price range! Nothing is broken, at this point, so I would expect the market to move higher for the lower degree wave d, then a drop for the e wave, and then ultimately a move higher to the target, which I have posted as $10,832 ranging as high as $11,200. The Triangle would be the logical conclusion, although during many of bull moves in the past, regarding Bitcoin, it seems that the C wave often times will truncate and come up short of it's target, which would normally be lower than the A wave. So I am expecting a triangle, but it doesn't have to complete as one, where the C wave just gets truncated and then a move higher altogether and no triangle takes place.....if that makes any sense.
Regards!
Originally I called for the wave 4 (purple) to be an "expanding flat", but I believe that it is morphing into a triangle to help digest this challenging price range! Nothing is broken, at this point, so I would expect the market to move higher for the lower degree wave d, then a drop for the e wave, and then ultimately a move higher to the target, which I have posted as $10,832 ranging as high as $11,200. The Triangle would be the logical conclusion, although during many of bull moves in the past, regarding Bitcoin, it seems that the C wave often times will truncate and come up short of it's target, which would normally be lower than the A wave. So I am expecting a triangle, but it doesn't have to complete as one, where the C wave just gets truncated and then a move higher altogether and no triangle takes place.....if that makes any sense.
Regards!