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cryptopious
Nov 25, 2017 12:31 PM

Are we in a big rising wedge? 

Bitcoin / U.S. dollarBitstamp

Description

Neither long nor short as even if this wedge is valid, bitcoin has broken out of bearish rising wedges before.
Comments
CrytpoKotter
I don't think you are accounting for the parabola on wave 5. You need to adjust your top wedge line down to the $5800 double top on your graph which will take you to 12K area. We will have a bit of a correction at 1OK area with a follow up to the $12,700 area before a correction to the mid $7,000 range. The we will go back up to the 11K which will give us a 2nd and more major correction down the $4900 area. I just got PRO up and running here, I will post a chart on this next week, look for me.
hyipster
@CrytpoKotter, it looks like you're right ! I'll be following you ;)
cryptopious
@CrytpoKotter, thanks!
Heglyn
I am counting 5 of 5 Elliot waves. It seems to do a new ATH and go to a correction like in July, and TD Sequential Indicator show us 8 of 9 weeks just one step of a reversal.
cryptopious
@Heglyn, yeah i think bitcoin needs a correction, but i've been saying this for 2 weeks now...
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