My recent Triangle-based setups have proved very efficient. XRPBTC chart:
ETHUSD chart:
Now we see the coiling price action in BTCUSD. These wave analysis labels suggest lower prices for BTC as part of an A-B-C correction. My criteria for going short is the break of 2307 level (candle close below). Also drawn on chart is Andrews' pitchfork, which is used as trend channel.
Comment:
The link to the second chart was incorrect. The correct ETHUSD chart:
After the initial breakout, price returned to test the upper trendline. It is often the case with Triangles, keep it in mind.
