A thought to share
cryptocurrency·@srezz·
0.000 HBDA thought to share
If one looks at Bitcoin on the 4h chart <a href="http://thepatternsite.com/risewedge.html">there's a clear rising wedge</a> which combined with <a href="http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:price_oscillators_ppo">the PPO indicator</a> displays a pronounced divergence between the price action and its momentum. https://www.mql5.com/en/charts/8603052/btcusd-h4-simplefx-ltd https://charts.mql5.com/18/120/btcusd-h4-simplefx-ltd.png What it simply means that we have a pull back on the cards for those who missed the train. If expressed in EW terms we have either completed (or soon be completing) wave D in <a href="http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:identifying_elliott_wave_patterns">ABCDE pattern</a> that the entire correction has morphed into and will have a final truncated push down in wave E https://ibb.co/mApJ1x https://image.ibb.co/eMsGoc/BTCUSD.png Or this rising wedge is the 5th wave of the 1st wave of wave III of (III) and we will be pulling back in wave 2 of III of (III) https://ibb.co/iybTZH https://image.ibb.co/fW0Boc/BTCUSD240_csv.png In any case I expect at least 50% retracement of the current swing up and for those who missed it, the Orient Express will soon make its final stop. https://ibb.co/drojrx https://image.ibb.co/izRFyc/MOTOE_randolph_engine_shot_1280px.jpg ADDON The vedge has broke to the upsite, - a rare but possible outcome with 30% of chances. The divergence has also flattened, but it's still there. https://www.mql5.com/en/charts/8606656/btcusd-h4-simplefx-ltd https://charts.mql5.com/18/127/btcusd-h4-simplefx-ltd.png
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