RE: Quick BTC update 21.12.17

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Quick BTC update 21.12.17

in btc •  7 years ago 

I agree with you. This could get ugly, especially after an ending diagonal pattern. The charts look bearish, let’s see if the support lines hold.
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      ·  7 years ago (edited)

    It can't be an ending diagonal, because it has to consist of only 3 waves like 3-3-3-3-3. Wave 1 and 4 need to overlap in an ending diagonal, too.
    What I am seing is, your triangle pattern could be an overshooting wave B like ABC, in the form of a running flat or expanded flat.

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      ·  7 years ago 

    Thank you for pointing that out. In that case it makes the structure less bearish than I initially thought.

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