BITCOIN - Forming Reversal Pattern - Ending Diagonal
Bitcoin is forming a reversal pattern known as Ending Diagonal. Ending diagonals form in Wave 5 or in Wave C. This is one of the more reliable reversal pattern with easy confirmation. It is important to note that the 5th wave of the ending diagonal can sometimes fall short or even extend therefore it's important to wait for confirmation. Confirmation for this reversal pattern will be the break of the diagonal. Further confirmation will be a break above the completion of the 4th wave.
Trade Idea:
- Watch for the completion of the 5th wave of the ending diagonal
- Risk entry on bounce off wedge (bare in mind price can extend beyond it)
- Safe entry on break above the wedge
What do you guys think?
Goodluck and as always, trade safe!
Trade Idea:
- Watch for the completion of the 5th wave of the ending diagonal
- Risk entry on bounce off wedge (bare in mind price can extend beyond it)
- Safe entry on break above the wedge
What do you guys think?
Goodluck and as always, trade safe!
Nota
Weekly Timeframe Nota
BITCOIN WEEKLY UPDATE
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Want more chart ups like this? Click the links below:
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Exención de responsabilidad
La información y las publicaciones no pretenden ser, ni constituyen, asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.