Leading diagonal; Wave (1)

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Wave 1 seems to have a three wave structure so it makes sense that a diagonal may be developing for wave (1). Each successive wave will be larger than the previous wave if this is an expanding diagonal. So Wave 3 will be greater than 1 and wave 5 will be larger than 3

Of course, the fibs will have to be adjusted to match the actual market price levels
The leading diagonal triangle has rules that govern its shape.

The subwave action usually follows two converging trendlines.
Subwave four often overlaps subwave 1.
The subwave count is 5-3-5-3-5.
The leading diagonal triangle usually occurs as part of wave one of impulses or wave A of zigzags.
*Leading* diagonal CAN'T have zigzags as waves 1,3,5
(2) will only retrace .382 - .5. :-)
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