BTC/USD Alternate Primary Count ABCDE Triangle almost done
I wanted to post this obvious Triangle pattern shaping up in BTC and many many other alt coins. Nothing is for certain, and this market can change on a dime due to news events or hacks, but if I'm correct, these accumulation periods are insanely bullish and are fueling the tanks getting ready for a monstrous run
The reason I called it a WXY with and ABCDE Triangle at the tail end is because EW Triangles consist of abc 3 wave corrections for each letter. But technically you can break it down and form an ABCDE Triangle. Both counts are bullish, but this one has a more immediate outcome which is bullish. Many investors and traders including my friends wait for a solid breakout of the triangle for entry. My strategy is different, where I ladder bids all the way down until I think it's time to throw in the towel. This is where I place my stops. I posted my stance as neutral because most traders would like confirmation first before committing, so i thought this would be the responsible thing to do
This ABCDE Triangle could coincide perfectly with bull season which is usually combined with the New York Blockchain event where many projects announce new partnerships and changes.
So I already have my bags filled and waiting patiently for the move. We may see a few more downs and ups (Link below)
As long as BTC doesn't shit the bed, we are going to have a very fun 2018
https://www.tradingview.com/chart/BTCUSD/VSWzNjjK-BTC-USD-WXY-ABCDE-Triangle-Still-Possibly-in-Play/
The reason I called it a WXY with and ABCDE Triangle at the tail end is because EW Triangles consist of abc 3 wave corrections for each letter. But technically you can break it down and form an ABCDE Triangle. Both counts are bullish, but this one has a more immediate outcome which is bullish. Many investors and traders including my friends wait for a solid breakout of the triangle for entry. My strategy is different, where I ladder bids all the way down until I think it's time to throw in the towel. This is where I place my stops. I posted my stance as neutral because most traders would like confirmation first before committing, so i thought this would be the responsible thing to do
This ABCDE Triangle could coincide perfectly with bull season which is usually combined with the New York Blockchain event where many projects announce new partnerships and changes.
So I already have my bags filled and waiting patiently for the move. We may see a few more downs and ups (Link below)
As long as BTC doesn't shit the bed, we are going to have a very fun 2018
https://www.tradingview.com/chart/BTCUSD/VSWzNjjK-BTC-USD-WXY-ABCDE-Triangle-Still-Possibly-in-Play/
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