Bitcoin

EW outlook for BTC part 3

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I've been updating the EW chart for BTC and this is an interesting intersection here. On one hand we have a potential Wyckoff accumulation setup, but on the other hand a triangle at the bottom of a steep move down in EW terms usually means one more shoe to fall. The thing is, a pattern may appear to be a triangle and wind up faking everyone out with the benefit of hindsight. Technically, we would have to take out the low of A inside the triangle at 31,230 in order to confirm the bearish triangle pattern. If that materializes, 27k sticks out to me as it's 618 support of the entire move up.

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