BTS (BITSHARES): Analysis: Culmination of Pattern & Waves are Signaling a Bullish Breakout in Price!
SUMMARY
The future price pathway projection shows primary to be the blue Elliott Waves with a target of 2,254 Satoshi. IF price decides to get closer to the Apex; the destination would remain little changed; only the pathway would differ. Price is also starting to gap and the direction is upwards. Usually, this signals a sizable rise potential in buying interests. Let's see how the price pans out in the next few days.
This triangle consoldation was after completion of a five wave impulse move and would have finished the motive.
The red ABC waves have been labeled and the subwaves fall well into place. This is significant because it confirmed the depletion of sellers to the extent that basically not a seller could be found.
This type of wedge has bearish implications and usually the gudiance is that price can fall below the starting point.
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