breakfast77

IS BITCOIN IN A WAVE 4 TRIANGLE?

BITSTAMP:BTCUSD   Bitcoin
Not liking the $BTC weekly candle. Rejected on the golden pocket fibs. Could this price action all just been a retracement? If so its not going to end well. If we don't sweep past above the golden pocket fibs this could end playing out. If we are still in a wave 4 in the macro level for bitcoin , i suspect this going to be a triangle. Typically wave 4 in EW are some kind of triangle. They either break out on the D wave or even on E. For now keeping bullish sentiment long term but keeping this in mind if bearish PA continues for months. Overall long term target still remains 89k+.
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