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RE: Bitcoin BTC - Feb 28 - Detailed Technical Analysis - Morning Update - Neutral - Indecision
Hi... i still don't get it... please :(
everywhere i read the X waves of double or triple correction are 3 wave ABCs corrections... :(
it is possible for it to be a 5 wave?
If the five waves in the X wave is in the shape of a rising wedge, than it can be considered a abcde corrective structure. Also, wave failures within the X wave can look similar to a five wave.
Right count on top, wrong count in red on the bottom.
A 5 waves impulse could actually be a corrective wave in disguise. I don't know if I missed any other combinations, but you're right, wave X can't be a impulse.
I have been wondering the same thing since Phil made his last video before he got hacked. Just to make it clear, X is corrective so it takes any corrective pattern, e.g. ABC, but it can also be an ABCDE triangle. But everywhere I read and it seems that 5 wave impulsive (12345) is not allowed in a X.
Please somebody help us...