EWFOREX.NET
Wednesday April 20, 2022 5:15pm Lima, Peru
USD/PEN 3.7138 sol; Bitcoin $41511; Gold $1955 oz.; US Oil $102 a barrel
BTC tested lower channel trend line support Monday and is now moving back up keeping the Minor D alive. So far three waves count complete at the $45821 Feb 9 high. However, D waves of triangles usually sport double threes. A move back up in three waves would complete a double zigzag at the upper channel trend line just around the 50% $50946.
If the crypto drops back down below lower channel trend line, then I’ll look for wave E to take form.
These types of triangles I do not like. Usually, D waves run to the Fibonacci 61.8% DvsB and past. Especially if its B wave made a new high above the start of its wave-A.
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