Btc/Usd Neo Wave
EXPLANATION ABOUT THE NEO WAVE DIAMETRIC FORMATION:
A NeoWave Diametric is a 7-legged formation (Triangles are 5 legs, Flats and Zigzags are 3) that does NOT involve an x-wave . As a result, instead of a-b-c - X - a-b-c, I had to continue with the alphabet , labeling it a-b-c-d-e-f-g. The distinguishing factor of a Diametric is the similarity of each wave segment in time and complexity to the other six. In Flats and Zigzags, time and complexity differences are extreme between waves-a, b and c. In Triangles less so, in Diametrics time similarity (not time differences) is the norm.
Diametrics occur in two main categories. One in which a period of expansion is evident during waves-a, b, c and d, followed by a period of contraction for waves-e, f and g. The other is the reverse; contraction occurs first during the first four wave segments, followed by expansion for the remaining three. This creates the look of a bowtie for the first series and a diamond shape for the second.
In the daily chart (weekly cash data) it seems that the upward trend from the floor of 28,000 continues in "a" diametric pattern. We are nearing the end of wave "e" of this pattern. And I expect to enter wave "f" of this diametric, with the goals specified in the chart. This wave will tend to move horizontally rather than deep.
A NeoWave Diametric is a 7-legged formation (Triangles are 5 legs, Flats and Zigzags are 3) that does NOT involve an x-wave . As a result, instead of a-b-c - X - a-b-c, I had to continue with the alphabet , labeling it a-b-c-d-e-f-g. The distinguishing factor of a Diametric is the similarity of each wave segment in time and complexity to the other six. In Flats and Zigzags, time and complexity differences are extreme between waves-a, b and c. In Triangles less so, in Diametrics time similarity (not time differences) is the norm.
Diametrics occur in two main categories. One in which a period of expansion is evident during waves-a, b, c and d, followed by a period of contraction for waves-e, f and g. The other is the reverse; contraction occurs first during the first four wave segments, followed by expansion for the remaining three. This creates the look of a bowtie for the first series and a diamond shape for the second.
In the daily chart (weekly cash data) it seems that the upward trend from the floor of 28,000 continues in "a" diametric pattern. We are nearing the end of wave "e" of this pattern. And I expect to enter wave "f" of this diametric, with the goals specified in the chart. This wave will tend to move horizontally rather than deep.
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