Bitcoin Chart Update

That is a pretty nice looking triangle. Triangles are consolidation patterns before the next move in the direction of the trend. A triangle the size of this one should lead to a pretty explosive move up once it is confirmed. If the final wave E is not complete yet, then it is awfully close to completion. We could still see a throw under of the lower ACE trendline, but it must not breach the red line marking the wave C low. It has been 1 year in the making. But, the end finally appears to be in sight.

About alphahorn

I received an MBA from Columbia University’s Graduate School of Business in New York and am a Wall Street veteran. I’ve worked for a number of investment banks including Smith Barney and First Boston/C S First Boston in New York. Over the years, I have developed my own Proprietary Swing System and I combine that System with my own Elliott Wave Analysis to trade.
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