Nathanael

Inside a bitcoin wedge formation

BITFINEX:BTCUSD   Bitcoin / Dollar
Long term I see us in a wedge (https://www.tradingview.com/x/x5eogjtZ/) and this looks like it could be an A wave in that wedge .

Bulls have had a great run, and a great rebound. But judging by the wave properties of this move up, I believe its just an ABC zig zag , and we are at the short term top, or at least close to it. Wave B commonly retraces 38%, but the previous "big brother" wave retraced and coiled up around the 61% mark before blasting up.
What you call (a) and (b), I've been calling 1 and 2. Is that wrong?
Reply
it *could* be, but to me it looks more like an A wave.
Reason being, it does not look like a impulsive wave, but more like a corrective wave. Wave 1 cannot be "corrective" (unless it is a rising wedge, which this could be, but again, it just does not *look* like one)
Reply
Zoomed out
snapshot
+2 Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out