chessnut

BTCUSD EW analysis. Triangle break UP

BITSTAMP:BTCUSD   Bitcoin / Dollar
362 1 3
The triangle across BTC exchanges has just broken up, unexpected on my part. This means a quick readjustment of the count to be more like DanV's and this breakout gives us some precious info about the next reversal and a short-medium term long scalp. The price should be able to reach at least 250 over the next 48 hours. When we have completed the impulse to the upside, we can be confident of a reversal after some RSI like confirmation because triangles are always terminal moves.
Kappy PRO
2 years ago
Thanks chessnut. This helped me see what I wasn't seeing before on the shorter time frame.

I think this fits nicely as an A-B(triangle)-C of wave 2 of a final 5 of 5 of a bigger picture A-B-C or W-X-Y.
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