WAVES/BTC: Consolidation Before a Bullish Breakout

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In this analysis, I'll be analyzing Waves' technicals in order to assess its bullish probabilities.

Analysis
- To begin with, Waves is currently consolidating within a descending channel
- While creating lower highs and lower lows, this is a potential bull flag setup
- After reaching support, it has formed a bullish ascending triangle
- Within this triangle, we can see that it formed a textbook Elliott Triple Wave Combo Wave (ABCDE)
- From this bullish setup, it broke out and closed above the 0.236 Fibonacci retracement resistance
- We are yet to test the resistance at the 0.382 Fibonacci level, and could expect a rally to continue up to the 0.618 resistance
- A break above the descending channel trend line would confirm a further rally to retest local tops

Conclusion
Taking into consideration that Waves 2.0 Testnet will be released around September 30, and the current bullish setup, we could expect a huge upside for this altcoin.

Don't predict the market. Take it by levels, and play by probabilities.
- Michael Wang-