rongross

BTC B Wave is a Triangle

BITFINEX:BTCUSD   Bitcoin
My speculation at the 6K bottom of a 5-3-5 zig zag correction was correct in theory but not in fact. The a-b-c corrective wave in a zig zag is the most common corrective wave in a zig zag but not the only possible type of corrective wave which of course is what makes corrections so difficult. Soooo, this correction is a zig zag but a 5-triangle-5 zig zag instead of a 5-3-5. Beware of the possible bull trap throw over at E. Possible move to 9k there. For those of us that wanted a move to 13k or 17k, sorry not happening on this trip. For those of us that wanted a move to 2k or 400, sorry not happening on this trip either. Most likely move is to the 4K to 5K area to end wave II. A possible rounding bottom there as people become aware that the next halving will be less than 2 years away at that point and will likely be in in the middle of big wave III The magic date at the time of this writing is May 28,2020. That should stimulate the Santa Claus rally and sell off to pay the taxes and buy presents for all the good Bitcoin boys and girls.
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