There is a Bearish wolfe wave setup on the Daily time frame. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the red perforated line, as shown in the chart. The projected target is $40,000which is expected to reach this price target within 12 days. It is worth nothing that there are gaps open in the BTC futures market. Gaps open in the futures fill 80% of the time. Using the gap finder, the gaps that are still active in the BTC chart are shown and higlighted as white shaded horizontal regions. Long term view for BTC is LONG and we expect price to exceed $80k in 2022;however, in the near term, price action of BTC may get a bit volatile.
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Discord: discord.gg/b2s56tmVgC
Free Checklist: subscribepage.io/gap_reversal_checklist
Youtube: youtube.com/@TOS_OPTION
Website: tosoption.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.