BITCOIN bull trap??

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi fellow traders

Elliott wave update. We are currently trading a triangle formation. This can only be a 4 or b corrective wave. My take is it is a wave b as the other triangle at 7666 was a corrective wave 4 in the middle of the wave (a).

B waves are known as traps. Be weary.

This means corrective wave c still to come. Another 3 down impulses. A-B generally equals B-C. End zone red box. This should give us a good bounce. Watch for substantial volume . Minimal volume , be weary still.

Education only, not trading advice.



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