Trade Setup On BTC/USD using Wave Principles

Looking at BTC/USD, it is providing us with the perfect trade setup to short. Under the wave principle, most rules and guidelines have been fulfilled here. This doesn't mean BTC will reach the 0.618 multiple of the wave 1-3 leg, but there is a very high possibility it was continue to drop from here. Triangles are most commonly formed in 4th waves of an impulse wave an (B) waves of an A-B-C correction or at the end of a W-X-Y wave. E can never violate the price territory of wave B - volume is usually low during the formation of triangles - E can overshoot the underlying trendline of waves (A) - (C). Remember the rules and you'll profit.