Diiferent Types of Price Patterns in Bitcoin Chart

11/08/2020 07:26:00 AM
  1. Wave 1 is identified as a Leading Diagonal pattern, characterized by the points A, B, C, D, and E.
  2. Wave 3 is not an impulsive move, so the analysis focuses on the potential of a "Throw-Over" of the Parallel Channel for the 5th Wave.
  3. Wave 4 is characterized by the presence of a Contracting Triangle pattern.
  4. To determine the pattern of Wave 5, various technical analysis tools are employed including:
    • The use of a Parallel Channel to analyze price movement
    • Examination of Spike Box (i), (ii), (ii) to identify the end of the triangle and potential spike in BTC
    • Utilization of Harmonic patterns to determine the exact level and pattern name for the next move.
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