TradingView
LongLifeTrading
Aug 24, 2021 2:55 PM

The beast is still alive! Short

Bitcoin / U.S. dollarBitstamp

Description

I'm sorry to say that, what started as a 5-wave impulse that initially disqualified the first prospect ABC zigzag correction has now come back to life with its ABCDE rising wedge. This long C-wave of the C-wave is extended and the rising wedge does, in itself, confirm its exhaustion - and especially so as it hit the 618 fib, yet while "throw-under" with its final wedge E-wave.

Technical downside in the shape of a massive 5-wave C-wave is now to be expected, and with a final target in the mid to low 20 000's.
Comments
atulfbd88
Any change in thoughts? I see inverted H&S on 4h and a bullish macd divergence.
atulfbd88
ok
shyam2015
interesting :) looks impossible
More