SUMMARY
Back on February 6, the below chart was used to map out a potential terminal end of a correction. Given that five impulse waves (blue) completed, the requisite abc was seen as a ZigZag (5,3,5) retracement with the subwaves of each shown. Since C waves always have five subwaves, it was projected that on emore wave down towards around 800 Satoshi was posted.
Currently, price shows that pattern morphing was quite actively in progress over the past couple weeks. The below chart shows that while the lower low was placed, the whole correction can now be drawn as an abcde triangle. Note how close price is to the apex of the triangle. This shows a potential for this pattern to be nearly complete. So what's next?
There is good level of confidence that the triangle is likely to be breached to the upside. The initial set of impulse price move could look like the below chart. Exciting times could be ahead!
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