BTC - Time For A Pull Back ?
Updated
BTC
Is calm but I think we may see a dump.
This slightly higher high could have been fine if it had quickly continued on up.
But now it is starting to slip down, it looks like it may be a Distribution with higher high being UpThrust UT.
There is a little danger here.
Where it looked so strong, it has only reached the higher time frame retracement 0.786 overshoot ratio.
And so there is still the possibility that this is area is a high time frame bounce to go lower that 54K.
I dont think that is the most likely outcome, but the ratio that it is rolling over at signals that it is on.
Also notice that the slightly higher high is a 0.5 extension ratio.
That is a weak ratio.
It may also be that we have a more shallow pull back.
We'll see how it develops 🧐.
Is calm but I think we may see a dump.
This slightly higher high could have been fine if it had quickly continued on up.
But now it is starting to slip down, it looks like it may be a Distribution with higher high being UpThrust UT.
There is a little danger here.
Where it looked so strong, it has only reached the higher time frame retracement 0.786 overshoot ratio.
And so there is still the possibility that this is area is a high time frame bounce to go lower that 54K.
I dont think that is the most likely outcome, but the ratio that it is rolling over at signals that it is on.
Also notice that the slightly higher high is a 0.5 extension ratio.
That is a weak ratio.
It may also be that we have a more shallow pull back.
We'll see how it develops 🧐.
Note
Note
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BTCIts looking more likely that the more bullish 1:1 will find the pivot low here.
It might be pump time again soon 🧐.
Note
Bounced in the 1.618 Golden Window.
We're into the post FED interest rate cut blow off phase for risk on markets🥳.
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I have many great deep value opportunities ❕
Many Trade Ideas Every Day 📈
Regular videos ✨.
Telegram Group: $50 per month 👍🏻.
Contact: t.me/dRends35
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