user100000
Long

diagonal update

BITFINEX:BTCUSD   Bitcoin / Dollar
339 0 2
I believe wave a of 5 has completed the mini expanding diagonal pattern and managed to advance just above the minimum requirement for the fifth wave. I'm expecting wave b to retrace 50% (251) to 61.8% (242) of wave a, but that isn't a requirement; the correction can be shallow also. After some sideways price action wave c should get started with a target of 408 (ideal). At that point, the larger diagonal pattern should be complete.

EDIT: fib retracement on the chart of wave a should read:
50%-------------------------------251
61.8%---------------------------- 242
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