TonySeverinoCMT

Bitcoin BTCUSD making a higher high on the weekly chart has perfected a TD9 sell setup. This is a market timing signal that suggests a reversal is possible. However, when this signal fails, it often leads to strong continuation in the original trend direction (up). In this picture, the first highlighted green box shows what happened the last time a perfected TD9 sell setup fired, but ultimately failed. The newly drawn green box is expected to fill out, before a corrective phase, then one more final impulse up to the upper channel boundary.

XRPUSD has potentially begun its upthrust from a wave 4 contracting bull market triangle. 2016/2017's massive leg up is an extended wave, with clear five-wave subdivision (top-most diagram). After reaching a wave 3 peak, began forming a contracting triangle that moved painfully sideways for seven years. We can, on good conviction, state that this was a triangle due to the clear ABCDE structure and decreasing volume and volatility. Due to the extended low volatility state, the upthrust out of the triangle can be especially strong and fast, hence the "thrust" naming convention. Importantly, triangles only appear before the final move in a sequence. Pay close attention to the smaller triangle in wave 3's sub-waves (sub-wave iv). After the triangle resolved, there was a final move up. That's what we can expect from the larger wave 4 triangle – a sharp move up to end the larger sequence. The triangle target typically matches the widest part of the triangle – that suggests a possible 1,000