meghal.jani
Long

The first stage of a zigzag correction

BITFINEX:BTCUSD   Bitcoin / Dollar
73 2 2
The market has completed the first leg of a 5-3-5 zigzag correction. I believe that B-C leg will terminate at $295-$298. Moreover, there is a morning star pattern at the end of the wedge .
rubenthin PRO
2 years ago
Thanks a lot. I'd missed that wedge...looking too closely.
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meghal.jani PRO rubenthin
2 years ago
It looks like the wedge correction is not complete yet. We are in the consolidation before the the third move down. The pin bar on the daily chart gave an illusion of a complete wedge; which is not the case.
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