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Veejahbee
May 5, 2020 2:42 PM

BITCOIN Triangle Pattern Signaling Exhaustion of The Bulls Long

Bitcoin / TetherUSBinance

Description

Bitcoin bulls are doing great but this triangle pattern is indicating that the strength is almost over.

According to Elliot Wave theory, triangle pattern always preceded the last move of a sequence.

In Bitcoin's case, price is making a five-wave impulsive move, so once the last impulse move in wave v is completed we can see a sizeable decline on BTCUSD.

What's your opinion on Bitcoin?

Comment

Corrective move like this after completion of the impulse wave.

Comments
Aruhisinha
Nice chart.
Veejahbee
@Aruhisinha, Thank you!
trytofeelpositive
hi bro,good chart
i have something similiar
Veejahbee
@trytofeelpositive, Very interesting!
trytofeelpositive
@Veejahbee, ty mate
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