davelunlun

Forming Wave D & E to complete the Contracting Triangle.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Wave 2 ended at $7,665.1, it has been retraced 0.71 level of Wave 1.
In most of the time, Wave 2 would retrace 0.618 - 0.786 level of Wave 1, which is also sharp & deep.

Forming Wave D & E could be the Sub-Wave 1 & 2 of Wave 3 respectively.
Comment: Wave Pattern still remain the same, and the Wave 2 have not finish yet.

Wave 2 could touch the Major Up Trend Line (yellow line) ~ $6,900 - $6,800 very soon.
Comment: Great, Wave 2 was ended at $7,240 (0.786 Fibonacci level of Wave 1). BTC/USD begins the journey to Wave D with target = $ 9,700 - $9,900.
Comment: Sub-Wave 1 & 2 of Wave D could be completed, and now in the forming of Sub-Wave 3 of Wave D with the short term target to $9,300.
Comment: Sub-Wave 3 of Wave D could hit $9,800 or even breach the Major Down Trend Line (white line) and complete this Contracting Triangle pattern without forming Wave E.
If this happened, it could be very BULLISH.
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