I think we are getting close to the end of the C wave ending diagonal.
An ending diagonal for a C wave is rare, but I believe the properties coincide with where we currently stand fundamentally in the bitcoin world - uncertainty, and the struggle between old bulls and bears is coiling down into the tip of a wedge....
More often then not, the 5th wave of an ending diagonal (or any triangle) never touches the wedges trend line. It commonly over or undershoots the line, (with an undershoot being more bullish, as bullish sediment picks up, it won't have a chance to get to its trend line target)
Im thinking this will happen not only fundamentally (bulls are very anxious, as you can see by how fast we shoot up, and how slow we correct down, china news coming to an end, etc.) but I also have a measured bottom around the 320 area from fibs. I have measured the corrective waves within in the wedge and got that target as demonstrated here:
Also note, that the measured bars at the bottom are more for reference then a measured move. I have never successfully predicted time.
Please comment, and tell me where you think we are at.
Peace out
An ending diagonal for a C wave is rare, but I believe the properties coincide with where we currently stand fundamentally in the bitcoin world - uncertainty, and the struggle between old bulls and bears is coiling down into the tip of a wedge....
More often then not, the 5th wave of an ending diagonal (or any triangle) never touches the wedges trend line. It commonly over or undershoots the line, (with an undershoot being more bullish, as bullish sediment picks up, it won't have a chance to get to its trend line target)
Im thinking this will happen not only fundamentally (bulls are very anxious, as you can see by how fast we shoot up, and how slow we correct down, china news coming to an end, etc.) but I also have a measured bottom around the 320 area from fibs. I have measured the corrective waves within in the wedge and got that target as demonstrated here:
Also note, that the measured bars at the bottom are more for reference then a measured move. I have never successfully predicted time.
Please comment, and tell me where you think we are at.
Peace out