MikeColfs71

Looking dubious for the diamond formation??

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Despite the premature drawing of the diamond pattern without the "right shoulder" formation, an advance beyond 42K could be an expanding/rolling flat, with corresponding C waves down. We have an 3,3,3 A wave, and as yet a 3,3,3 B wave. The ADX , suggests we are still consolidating as does a declining ATR. As before, perhaps the wave 4 correction of Wave 3 (big picture) has played out, and we're heading for subwave 5 of 3.
Comment: HK Candles illustrate subwave structure better