Bitcoin – Reversal Pattern Formation – Technical Analysis – 2022-12-16 14:15:31

bitcoin It is called a reversal pattern ends diagonally . The final diagonals form in wave 5 or in wave C. This is one of the most reliable reversal patterns with easy confirmation. It is important to note that the fifth wave of ends diagonally It can miss or stretch sometimes, so it’s important to wait for confirmation. Confirmation of this reversal pattern would be the diagonal break. Additional confirmation would be a break above the completion of the fourth wave.

Trade idea:
– Watch out for the completion of the fifth wave of ends diagonally
– Entry risk on retracement wedge (Note that the price may extend beyond that)
– Safe entry to break above wedge

what do you think?

Good luck and as always, shop safely!

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