As of right now
BTCUSD
is printing a broadening wedge; that push down we just had was a liquidity hunt which got ate up in a matter of minutes.
These triangles and wedges all mean the same thing, consolidation. So don't get hung up on whats what, but more so the concept that the market is absorbing a recent move and is about to continue on that trend once it has finished digesting the recent move.
I still think we see another move up to finish the Elliot Wave before we see a big correction.
On the lower time frames,
BTCUSD
is running into a bit of resistance, but I don't think it's anything significant. Even as I type this we are moving through it.
BTCUSD
is printing a broadening wedge; that push down we just had was a liquidity hunt which got ate up in a matter of minutes. These triangles and wedges all mean the same thing, consolidation. So don't get hung up on whats what, but more so the concept that the market is absorbing a recent move and is about to continue on that trend once it has finished digesting the recent move.
I still think we see another move up to finish the Elliot Wave before we see a big correction.
On the lower time frames,
BTCUSD
is running into a bit of resistance, but I don't think it's anything significant. Even as I type this we are moving through it.