Forming Wave D & E to complete the Contracting Triangle.
Wave 2 ended at $7,665.1, it has been retraced 0.71 level of Wave 1.
In most of the time, Wave 2 would retrace 0.618 - 0.786 level of Wave 1, which is also sharp & deep.
Forming Wave D & E could be the Sub-Wave 1 & 2 of Wave 3 respectively.
In most of the time, Wave 2 would retrace 0.618 - 0.786 level of Wave 1, which is also sharp & deep.
Forming Wave D & E could be the Sub-Wave 1 & 2 of Wave 3 respectively.
Comment:
Great, Wave 2 was ended at $7,240 (0.786 Fibonacci level of Wave 1). BTC/USD begins the journey to Wave D with target = $ 9,700 - $9,900.
Comment:
Sub-Wave 1 & 2 of Wave D could be completed, and now in the forming of Sub-Wave 3 of Wave D with the short term target to $9,300.
Comment:
Sub-Wave 3 of Wave D could hit $9,800 or even breach the Major Down Trend Line (white line) and complete this Contracting Triangle pattern without forming Wave E.
If this happened, it could be very BULLISH.
If this happened, it could be very BULLISH.
Wave 2 could touch the Major Up Trend Line (yellow line) ~ $6,900 - $6,800 very soon.