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RE: Bitcoin BTC - Feb 28 - Detailed Technical Analysis - Morning Update - Neutral - Indecision

in #bitcoin7 years ago (edited)

If the five waves in the X wave is in the shape of a rising wedge, than it can be considered a abcde corrective structure. Also, wave failures within the X wave can look similar to a five wave.

Right count on top, wrong count in red on the bottom.
Screen Shot 2018-02-28 at 3.11.30 PM.pngScreen Shot 2018-02-28 at 3.13.25 PM.png

A 5 waves impulse could actually be a corrective wave in disguise. I don't know if I missed any other combinations, but you're right, wave X can't be a impulse.