Bitcoin - Classic Flat-Screaming for 72000 Target Upside for CRYPTO:BTCUSD by WaveTalks

waveanalysis trendanalysis chartpattern wavetalks talkswave endingdiagonal fallingwedge flatcorrection

Elliott Wave Flat Sequence with Wave C Ending Diagonal
In Elliott Wave Theory, a flat sequence typically consists of three waves: A, B, and C. The pattern is generally labeled 3-3-5, indicating the wave structures.

Wave A: A corrective three-wave move.
Wave B: Another three-wave corrective move, often retracing Wave A by 90% or more.
Wave C: A five-wave move, which can unfold as an ending diagonal.

An ending diagonal in Wave C indicates a slowing momentum, often signaling a reversal. The ending diagonal structure usually forms a wedge pattern, tapering towards the end. This setup is crucial for identifying potential turning points in the market.

Buying Trigger Above
66457

Target
71993

From WaveTalks
Abhishek

Best Regards,
Abhishek H. Singh
Growth Director - TradingView India

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