As BTC just Retraced on the .618 Fib, this may indicate that BTC is on a slow trend-reversal.
As it's 20 min later now after i started the first line of this Chart-reading, I see the Green candle has grown significantly already, which indicates bullish momentum.
I have set 5 Fib levels for Retracement possibilities.
I actually think i did it a bit wrong here, for it will ofcourse not retrace all the way up in 1 leg. But it may happen in a few moves/waves.
I have NOT consider EWT here so I think that also makes my Analysis not too accurate yet, but ofcourse, the 0.5 and .618 are feasible. I haven't speculated price-movements (for time-reasons) because I am thinking of starting a Funded acc fast to catch a few moves on the market! Lets see what it does!
*All fibs according to colour, 0.5-628-1 and 1.618 respectively.
I appreciate Criticism, boosts and Feedback for my learning curve.
So if you criticise, please be constructive.
**At this point it has NOT even touched the .236 level yet, which may indicate a weak bullish bounce, thus a continuation of downtrend, But as this is the 4 hour timeframe, I think we have plenty of time to make that 0.5 or 618 level possible! - I havent considered any other timeframes yet, for same reasons: I can't lose that time right now. Maybe I can make a more complete analysis later. This is all for practice and learning! 😘💖
As it's 20 min later now after i started the first line of this Chart-reading, I see the Green candle has grown significantly already, which indicates bullish momentum.
I have set 5 Fib levels for Retracement possibilities.
I actually think i did it a bit wrong here, for it will ofcourse not retrace all the way up in 1 leg. But it may happen in a few moves/waves.
I have NOT consider EWT here so I think that also makes my Analysis not too accurate yet, but ofcourse, the 0.5 and .618 are feasible. I haven't speculated price-movements (for time-reasons) because I am thinking of starting a Funded acc fast to catch a few moves on the market! Lets see what it does!
*All fibs according to colour, 0.5-628-1 and 1.618 respectively.
I appreciate Criticism, boosts and Feedback for my learning curve.
So if you criticise, please be constructive.
**At this point it has NOT even touched the .236 level yet, which may indicate a weak bullish bounce, thus a continuation of downtrend, But as this is the 4 hour timeframe, I think we have plenty of time to make that 0.5 or 618 level possible! - I havent considered any other timeframes yet, for same reasons: I can't lose that time right now. Maybe I can make a more complete analysis later. This is all for practice and learning! 😘💖
Trade active
It has sort of formed a double bottom now, As i said before it had a WEAK bullish momentum, which has sort of a probability to continue downtrend. As it has double-bottomed now (at a small fraction diffence), a good rebound is still not out of the picture. This takes Courage[\b] to hold or Entry-trade, as it is looking quite bearish right now. Good luck traders!
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.
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.