Hi everyone,

On Jan 7, The Economic Times headline read, “Federal Reserve’s rate hike hint sends cryptos crashing” . saying so, that economists have panicked. (Honestly ) I was thinking to myself this could be hell (this would suggest that a larger corrective pattern is underway from last month) .

In plain English, We had five choices:
1- Zigzag , 2-Flat, 3-Triangle, 4- Double three, 5- Triple three

As you know, the best choice was a Triangle (A triangle is a sideways movement)

Ending Diagonal:
An ending diagonal indicates that the end of a cycle is near.

Characteristics:
1- can appear within an impulse as wave 5 or within a correction as a wave C (The merit of this chain of reasoning is not my issue).
2- Structure 3-3-3-3-3 (sometimes we might face some ugly structures)
3- after an ending diagonal prices are expected to go back to the level, where the pattern had started.

Target 1= $ 35400 (March 17)
Target 2= $ 44000