BitcoinLong
BTC/USD = ENDING DIAGONAL - SIGNAL FOR REVERSAL
BTC FORMING ENDING DIAGONAL (4HR/1D TIME FRAME)
Ending diagonals are motive wave patterns yet not impulses, as they have two corrective characteristics (wave 4 must always enter the price territory of wave 2). ED's usually take the shape of a wedge and in all cases, they are found at the reversal points of the larger patterns, showing exhaustion of the larger movement.In many cases, an ending diagonal is usually followed by a strong impulsive move in the opposite direction of the trend.
GREEN BOX > BUY/LONG ON WEAKNESS
Ending diagonals are motive wave patterns yet not impulses, as they have two corrective characteristics (wave 4 must always enter the price territory of wave 2). ED's usually take the shape of a wedge and in all cases, they are found at the reversal points of the larger patterns, showing exhaustion of the larger movement.In many cases, an ending diagonal is usually followed by a strong impulsive move in the opposite direction of the trend.
GREEN BOX > BUY/LONG ON WEAKNESS
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.