BTCUSD Valley Formation
Price moved as per our calculation for the 1hr TF but did better with reaching 2.618 as well. this is very strong signs of something coming into crypto real soon. I have completed the 4hr chart to understand where our targets are and the price breakout at 6,900-7,000$ is very crucial as we do not know if we can break it, but I'm confident we will. The chart is clear and if you have any question shoot to me @thaibx
In the long view we can see a formation of a valley which is a very bullish sign if we complete as per the drawing.
Note
Price hit our Wave 3 target earlier than before, so I have updated the 4,5 marks. This Price points are very crucial as we are going to tough grounds. The buy area marked 7,011-6,834$ is a chance for entry if haven't entered earlier, but make sure to have tight stop-loss to close long position if price hits 6,750$. Target for 5 is still the same around 8,000$ range. But there is 1 blue line we got rejected which is exactly at the end of Wave 3. This line has not yet been tested and I think we will be having a difficult wave 5 to crack above this line. Still difficult times to trade as price may also flip down to sub 6k as well.
Note
On our way to 4 makes perfect sense to see ABC
Trade closed: target reached
We won !
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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.