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Riding Bitcoin Wave E in Triangle by thewavetrader

View this thread on: hive.blogpeakd.comecency.com
· @thewavetrader · (edited)
$0.02
Riding Bitcoin Wave E in Triangle
Since its peak around last week of June 2019, Bitcoin has been in consolidation period since today.

But I believe Bitcoin will soon break into consolidation and will probably resume its rally again leading to the 12k range and possibly more to the upside.

![24-08-2019 post1.PNG](https://cdn.steemitimages.com/DQmNcJXmfKZnFzjyTYKyWy6yQasaiedtG2KNSatnG3G6vHU/24-08-2019%20post1.PNG)

I have come into this conclusion that Bitcoin might exit into this 3-month consolidation period because as a believer in the Wave Analysis (and quick refresher of the Elliott Wave principle to those new to the concept), we have 5 core patterns to observe namely, the Impulse waves, the Ending Diagonals, the Zigzags, the Flats and the Triangles.

These 5 core patterns are broken down into 2 distinct waves namely the Motive waves and the Corrective waves.

Now 2 of the core patterns belongs to the Motive waves namely the Impulse waves and the Ending Diagonals.

And 3 of the core patterns belongs to the Corrective waves namely the Zigzags, the Flats and the Triangles.

So referring to the daily chart above, Bitcoin is already trading near the Triangle wave support which is part of the Corrective waves.

Now if price will respect the trendline support, then it might go up very soon.

![TRIANGLE PATTERN.PNG](https://cdn.steemitimages.com/DQmUxEvyDaQaxT4sjvkqPjsFNdsQ7Vkskftcrucsp1eQnPc/TRIANGLE%20PATTERN.PNG)

Btw, Figure 1.14 is a typical structure of a Triangle pattern so you'll know what it looks like both in the Bull and Bear market for our information and reference.

I will keep editing this post for more information later.

I just want to post this live updates so you can quickly see what my post is all about...

to be continued...
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@ambongan2009 ·
thanks for the info bossMag..I will be following this..
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@awen71 ·
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@blackhunter008 ·
Sir thewavetrader salamat s information..
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@cryptoasero ·
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@thewavetrader ·
thanks @cryptoasero for following :)
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@darthtrader2019 ·
Thank you for this boss @thewavetrader
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@flost791 ·
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@thewavetrader ·
thanks @flost791 for your comment :)
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@harmonicstrader ·
Thanks a lot , this will help and guide us. More power thewavetrader.
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@izaxel ·
Thank you for this master Mag, esti  Master Wavetrader. ;)   god bless
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@jhayiejel ·
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@jojoestac0731 ·
Thank you boss for sharing. This is very helpful for us especially for the beginners in the trading business. God bless..
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@thewavetrader ·
Sure @jojoestac0731! hope this post and all of my future posts can be of help you become a more informed trader. So keep following! :)
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@lalai-uno2tres ·
always looking forward to the imparted knowledge
as always, I am following the Master's path
path to understand the wave
path no to be greedy
and
path to be freed from "RAT RACE"
πŸ‘  
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@nephzkyzz ·
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@newjiveexplorer ·
Yes I'm following my Boss
😘
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@thewavetrader ·
thanks @newjiveexplorer for following :)
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@rikiteks ·
Thank you boss... more wave analysis and prediction to come..
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@ritxi ·
Bitcoin dropped, but I still like your attitude and analysis! Do you publish anywhere else than Steemit?
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@rockteng05 ·
Informative! Thank you for this analysis!
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@seagulla11 ·
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@thewavetrader ·
thanks @seagulla11 for following :)
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@snipershean ·
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@thewavetrader ·
thanks @snipershean for your comment :)
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vote details (6)
@steemitboard ·
Congratulations @thewavetrader! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

<table><tr><td><img src="https://steemitimages.com/60x60/http://steemitboard.com/img/notifications/firstcommented.png"></td><td>You got a First Reply</td></tr>
<tr><td><img src="https://steemitimages.com/60x70/http://steemitboard.com/@thewavetrader/voted.png?201909231556"></td><td>You received more than 10 upvotes. Your next target is to reach 50 upvotes.</td></tr>
<tr><td><img src="https://steemitimages.com/60x60/http://steemitboard.com/img/notifications/firstvote.png"></td><td>You made your First Vote</td></tr>
</table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@thewavetrader) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=thewavetrader)_</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>



**Do not miss the last post from @steemitboard:**
<table><tr><td><a href="https://steemit.com/steemfest/@steemitboard/steemitboard-supports-the-steemfest-travel-reimbursement-fund"><img src="https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmXDHs9xfx8ZZ3DESFUqHRUQAcQT5kUWobArsRoJg2Yz1F/image.png"></a></td><td><a href="https://steemit.com/steemfest/@steemitboard/steemitboard-supports-the-steemfest-travel-reimbursement-fund">SteemitBoard supports the SteemFest⁴ Travel Reimbursement Fund.</a></td></tr></table>

###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
πŸ‘  , , , , , ,
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vote details (7)
@teribot14 ·
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vote details (9)
@thewavetrader ·
you're welcome @teribot14 :)
πŸ‘  , , , , ,
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vote details (6)
@xerxesahl ·
thank you for sharing sir this will be of great help for us trying to learn... :)
πŸ‘  , , ,
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vote details (4)