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RE: Bitcoin Technical Analysis: The Battle Rages On...

in #cryptocurrency6 years ago (edited)

Sorry...I didn't realize you were referring to the larger primary waves. Yes, every 5 wave set is part of a larger primary wave. Sam from trade devils is a great guy and a great trader. His count had bitcoin in an ABC expanded flat. While I like Sam's TA, I disagree this time due to the perfect pattern of what appears to be Bulkowski's wedge. I think it HAS to be counted as an expanding, ABCDE triangle. That said, the truth is, our counts are pretty much the same.
My bearish 5 waves down scenario are sub-waves of a larger primary wave 5. Where Sam and I differ is on where the primary wave 3 ends and the primary wave 4 begins. We both agree on the ending point of primary wave 4...even though I only listed the sub-waves above. That said, from this point, our bearish counts are pretty much the same. Hope that makes since.

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