Nice triangle and is being properly respected. Could, of course, go both ways.
I bet on the drop.
I bet on the drop.
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And it went the other way.
It's harder for me to justify this move based on the Elliott count, but maybe this triangle is actually an Elliott's diagonal 5th wave (and the D-E line would be it's sub-5th wave). Fib extensions are actually OK with this idea. That or the 4th wave was incredibly shallow as a correction. It would be a sign of a very strong demand, however volume does not support this idea...
Let's see how this turns out.
Do check the Pi Cycle top indicator on the www.lookintobitcoin.com. Another important piece of this puzzle.
It's harder for me to justify this move based on the Elliott count, but maybe this triangle is actually an Elliott's diagonal 5th wave (and the D-E line would be it's sub-5th wave). Fib extensions are actually OK with this idea. That or the 4th wave was incredibly shallow as a correction. It would be a sign of a very strong demand, however volume does not support this idea...
Let's see how this turns out.
Do check the Pi Cycle top indicator on the www.lookintobitcoin.com. Another important piece of this puzzle.
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If this plays out, BTC should rise to around 68k before the proper (Lambo-wrecking) correction.
That or we are getting a push higher before the plunge.