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5-3-5 or 3-3-3-3-3 ?

By BTC-XLM
Updated

Honestly, Sometimes it can be rather difficult to identify corrective patterns until they are completed. Almost as an afterthought I realised I have omitted an important point (3-3-3-3-3)

Two types of corrective patterns (***Assumptions:):

1-Zigzag (5-3-5)
This pattern is a 3 waves corrective move labelled as ABC.
wave B, doesn’t retrace more than 61.8% of wave A.
wave C can reach 161.8% of wave A.

Delving into the corrective pattern:
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2- Triangle (3-3-3-3-3)
When a (3-3-3-3-3) triangle occurs, it sends out contradictory signals to traders.

***Assumptions:
1- hope for peace (As you know, many investors are turning towards more stable assets such as gold (Bullish Oil-Price), while, Bitcoin Falls As Russia-Ukraine Tensions Escalate)
2- snapshot
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(March 21, 2014) Vladimir Putin Signs Russia's Annexation of Crimea Into Law

(Feb 26, 2021) Biden says US won't accept Russia's Crimea annexation

Good luck.
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