BTCUSD correction likely

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I have adjusted my count for BTCUSD .

I now believe with the rising wedge pattern, and the projected length of wave 5 equal to wave 1, that the top of this 5 wave impulse has nearly been reached.

I anticipate that the blue support line that has been resistance for so long will hold for the correction, putting this larger wave 2 retracement in the area of the previous impulse wave 4 correction, and I am guessing that the form of the correction will be a downward triangle as BTCUSD has already demonstrated its propensity towards them.
Comment: Count is likely wrong, we are still in a correction but not of as large a degree.

Unless we are dealing with a truncated 5th then I concede that the wedge must be wave 1 of 3 and the correction is wave 2 of 3.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out