ndau

Whale tricks or WXY pattern?

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BITFINEX:BTCUSD   Bitcoin
While it appears that Whales are playing tricks with Cryptos, evidence is now emerging that they may be following a double zigzag WXY pattern. In this pattern, two ABC waves are joined together to form a larger structure as shown in the chart (green wave).

If this is correct, then Bitcoin and other cryptos are currently moving up from W to X. For Bitcoin, this wave could terminate at 8775 (if the smaller c wave = the smaller a wave) or at 9061 (if c= 1.62 a). Once the X wave is complete, the Y wave could take Bitcoin down to 7400. Other cryptos such as Litecoin, Ripple, Bitcoin cash and Ethereum seem to be following the same pattern.
Kommentar:
Wave Y appears to be in progress now.
Kommentar:
Bitcoin is following the pattern predicted on May 16. Load new bars and enjoy!

It did not go up to the X level as much as predicted but completed a and b waves of the Y wave almost at the predicted levels. It suggests that despite a lot of FUD, Bitcoin seems to follow the technical analysis.
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