SUMMARY
Bitcoin Diamond (BCD) has a pair of fractals. The first is marked with the white triangle and the second with blue. The onset of the vertical breakout from the first fractal is circled by white circle. The blue triangle is labeled with abcde and price is currently at the doors of the apex. As price gets closer to the apex point, it has greater need to breakout.
Waves a,b,c,d and e of the blue triangle has been subwave labeled. The key question is, how likely is a price explsion to be repeated in the second fractal? If wave e is near complete, price would have to breach the upper line of the triangle. Since the earliest sign of a trend reversal is an impulse of five Elliott Waves. While fractal comparison can lend more confidence to the direction of the breakout, on its own, it only supports a buy laddering initiative within the circled zone.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
