user100000

Closer look at Wave (Y) triangle (high level consolidation)

Long
BITSTAMP:BTCUSD   Bitcoin
4
Each leg of the triangle is corrective (three waves structure). Wave D seems to be underway at this time and should end at any level below 447.99 (below where B ends) as it is a contracting triangle. Once the market eventually takes out the blue dashed line I believe primary wave 3 will have started. Note, a triangle at the end of a WXY correction is usually the final pattern
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