gz1968

BTC Elliott wave and Wyckoff

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This is my first time merging the two theories together. Many show BTC taking off in a typical Wyckoff rise from here, but BTC seems to be forming a rising wedge , which logically would be a subwave 1. So a drop for subwave 2 seems logical.

I used a WXYXZ due to the abc subwaves for each leg. I notice many put this as 12345 to the "spring". Semantics.

Comments

I think BTC is forming a classing descending triangle pattern. The dump seems inevitable. But time will tell I guess.
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