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RE: Bitcoin (BTC) Morning Update: What Would a Breakout Look Like?
@haejin as usual love your TA!
Question sir....is the below possible where instead of E being where it is it could maybe be the bottom of C instead where we have one more wave down? From my study, wave C is usually the longest in a triangle. This would also support what appears to be a consensus that we may be heading to $7200?
I think there will be another wave down, many others doing TA think so as well. At least a good chance of it to around 7500 or 7200. I only see 4 waves down from the large bear flag in the middle of the wedge. Your labeled E would make wave 5. Breakout is always possible to negate that count though. Full length 5th would put us at the 7250 or so and truncated 5th would likely create a double bottom.