CrypticTrading

BTC, possible test of upper resistance before double bottom

Long
COINBASE:BTCUSD   Bitcoin
Getting right into it, it appears we are about to enter the right shoulder if you were to look at a smaller aggregate chart, as we have just seen a decrease in volume on the 1 hr chart throughout the rise. When the neckline is reached we should be sent up to point A and test the upper resistance band yet failing, keeping us in a large falling wedge. A possible elliot wave sequence could then shoot us to the double bottom line, and complete the larger ABC from the larger elliot wave pattern shown.

This is not trading advice, this is simply what I see and I've only been looking at charts for about 2 months. Any further insight is much appreciated.

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