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RE: BTC big pic update 29.08.2019
I don't see the triangle, but I agree with your price targets (even 280k is possible, this time is not retail bull run, it's institutions. The FOMO can get ridiculous...)
Yes, I bought 6k more Steem so far. If we go lower I'll add.
here it is (caption reads "48 hours left to turn green and become a bull wick?")
Wave 2 can never be a triangle. This rule cannot be ignored.
I think it will drop tomorrow when wave 2 of c of Y is done.
Good point, I had honestly forgotten about this rule. Gotta do my homework again...
But now what if this was actually wave 4 of a smaller degree (not minding the "1", "2" annotations)?
I would say this has a 2% chance of being wave 4. Because it is 10 times bigger than the corresponding wave 2 is. That is very unlikely.
And WXY in wave 2 is also a very common pattern in commodities. (Many people consider BTC to fit best in the asset class of commodities a.k.a. digital gold)