BTC - Contraction Triangle

26 ביולי

After a nice bottom catch at the 1.618 (see linked thread) BTC has pumped hard.

And now it appears that a contraction triangle is printing.

Might wobble around - I am not saying it has to pump at the apex; the corrective price action could extend

But it looks likely to breakout into the next wave up soon en route to an eventual 174K 🧐.

Not advice

26 ביולי

הערה

Breakout! 🧐

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26 ביולי

הערה

BTC

The pop from the bullish conraction triangle has led to a slightly higher high into a dump.

This may signal that a Wyckoff Distribution is printing.

It may also be a bullish 3 wave continuation pattern.

But this is an area not to be over leveraged.

We may see another bearish wipeout here 🧐.

26 ביולי

הערה

Strong bounce here and if it can push up beyond the 0.786 then more likely this is a 3 wave continuation pattern to move on up 🧐.