Bitcoin Horizontal Triangle Repeating Cycles
Updated
Hello friends and traders,
We may finally break out of this consolidation phase inside the horizontal triangle when this move plays out.
The first 1-2-3-4 cycle (White Numbers) had a 30% Drop.
The second 1-2-3-4 cycle (Yellow Numbers) may replicate the 34% rise, which lines up with the 0.236 Fibonacci Level and the target price is at $12,736.22 before we drop again.
Remember to always, always place your trailing stops at the appropriate levels as not to get stopped out at your trades.
>>>>> Always be prepared for either scenario of upwards movement or downwards movement. <<<<<
Happy Trading Everyone.
Ron (Intrepid Trader)
Support and Resistance Lines
The Trend-Based Fibonacci Extension Tool
Elliott Impulse And Correction Waves
Potential Inverse Head & Shoulders Pattern
============================================
Check out these still valid long-term outlook for Bitcoin using:
Bitcoin ABC Elliott Correction Wave & Gann Boxes
Bitcoin's Most Common Reversal Levels
Fractals: Hmmm, Pretty Similar To Me Bitcoin
============================================
Check out Bitcoin Cycles
Bitcoin Cycle Of Rise, Peak, Drop
============================================
Wonderful 61.8% And 38.2% Fibonacci Magic
We may finally break out of this consolidation phase inside the horizontal triangle when this move plays out.
The first 1-2-3-4 cycle (White Numbers) had a 30% Drop.
The second 1-2-3-4 cycle (Yellow Numbers) may replicate the 34% rise, which lines up with the 0.236 Fibonacci Level and the target price is at $12,736.22 before we drop again.
Remember to always, always place your trailing stops at the appropriate levels as not to get stopped out at your trades.
>>>>> Always be prepared for either scenario of upwards movement or downwards movement. <<<<<
Happy Trading Everyone.
Ron (Intrepid Trader)
Support and Resistance Lines
The Trend-Based Fibonacci Extension Tool
Elliott Impulse And Correction Waves
Potential Inverse Head & Shoulders Pattern
============================================
Check out these still valid long-term outlook for Bitcoin using:
Bitcoin ABC Elliott Correction Wave & Gann Boxes
Bitcoin's Most Common Reversal Levels
Fractals: Hmmm, Pretty Similar To Me Bitcoin
============================================
Check out Bitcoin Cycles
Bitcoin Cycle Of Rise, Peak, Drop
============================================
Wonderful 61.8% And 38.2% Fibonacci Magic
Note
Support at the white bar inside the orange circle held up, price bounced off of it and now moving towards the 12.7K target. Will it reach if?Note
Bitcoin rallying and on course towards the 12.7K target.
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