Ascending Triangles: The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend (Known as an "Ascending Triangle Bottom Reversal Pattern)" as defined here where the end of the bear market (Primary Wave Correction)...
The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend (Known as an "Ascending Triangle Bottom Reversal Pattern)" as defined here Update: Added some more EW
At 7800 we will hit the 200ma on the daily, which i believe will trigger a rejection and an ABC correction.
Color Coded zones showing each phase. Bull market continuation started at 5950
Latest Elliot Wave Count (Possible that the 5th wave could extend to 1.618%)
1.618% Target Possible as Wave 3 was just below 1.618% of wave 1
Approaching Reversal of the Dec-October Corrective Wave, Bullish EOY and 2019 ahead.
50ma Rejection, Top/Bottom Divergence Indicator has yet to achieve a bottom signal (cyan dot), looks very bearish in the short to mid term for sure, and long term looks very grim indeed. The problem with shorting is eventually you end up with a lot of worthless coins... trading this is getting less and less worthwhile.
Getting ready for the bull run ;)
One to watch out for if this turns out to not be a bottom reversal pattern, and instead is just a downtrending ascending triangle. Either way there is profit to be made