Diametric X Contracting Triangle
Sl 5900
Sl 5900
Comment:
Bitcoin / Dollar Update
Bitcoin / Dollar Update
I expect Bitcoin to complete this year’s corrections with a contracting triangle!
As you can see in the above mentioned chart, C wave from the triangle as a diametric is about to complete.
After completing 2 last parts of the diametric in the form of wave D, upper triangle can start an ascending wave to reach for 7500-8000.
As I have mentioned before in a comment, wave A from the bigger triangle has spent more time to complete compare to B & C which can be explained by wave C diametric in time scale.
As far as #BTC does not cross 5800, this analysis is valid.
If your stop-loss is triggered in higher price ranges, I recommend you to enter in current price ranges and below for a decent mid-term profit.