BitcoinShort
BTCUSD correction
Updated
Hello everyone.
Sorry for the long pause.
I was trying to improve my vision, so i ended up analysing long periods of time and major timeframes.
The main chart is the conclusion of my analysis. But lets start from how i built up all this.
So, i made a channel. long channel from the past periods.
Then i made the main fib extension. It goes from the price level, that i consider as a start of an uptrend, because from this level price was making new highs after every cycle.
Here is the picture
Also i found a relation: when the fib ext is build from this price level to the point of small rollback before the trend continuation, the top of the trend usually reaches the level between 1 and 1.272. Also, fib ext made from the bottom of correction to the rollback before the last hop of the trend shows the end of trend in the 1.272-1.414 area. i dont think that it is just a coincidence. Anyway, this method perfectly worked this time.
And now about future. I think it`s a good time for correction. We have two targets 0.7(12k) and 0.5 (10k). I`d like to see 10 k correction. Why? Because all previous corrections were about 40 %, and it`s perfect condition for the market to make a recharge. However, the last one was only 30%. The market should be overheated right now, so 10 k would be perfect target, where bitcoin can find new investors as well.
Thank you for attention.
If my charts helped you somehow, you can help me with donation. I`m saving up 0.02 btc to start trading. Any satoshi from you will be a really big help. pm if you decide
Sorry for the long pause.
I was trying to improve my vision, so i ended up analysing long periods of time and major timeframes.
The main chart is the conclusion of my analysis. But lets start from how i built up all this.
So, i made a channel. long channel from the past periods.
Then i made the main fib extension. It goes from the price level, that i consider as a start of an uptrend, because from this level price was making new highs after every cycle.
Here is the picture
Also i found a relation: when the fib ext is build from this price level to the point of small rollback before the trend continuation, the top of the trend usually reaches the level between 1 and 1.272. Also, fib ext made from the bottom of correction to the rollback before the last hop of the trend shows the end of trend in the 1.272-1.414 area. i dont think that it is just a coincidence. Anyway, this method perfectly worked this time.
And now about future. I think it`s a good time for correction. We have two targets 0.7(12k) and 0.5 (10k). I`d like to see 10 k correction. Why? Because all previous corrections were about 40 %, and it`s perfect condition for the market to make a recharge. However, the last one was only 30%. The market should be overheated right now, so 10 k would be perfect target, where bitcoin can find new investors as well.
Thank you for attention.
If my charts helped you somehow, you can help me with donation. I`m saving up 0.02 btc to start trading. Any satoshi from you will be a really big help. pm if you decide
Note
IMPORTANT! that zone is extremly strong. bouncing from this could be lethal for the correction. monitor this level accurately. Note
closing 4h timeframe candle under the channel should provide us the road to targets i namedNote
great movement! now possible retest of 15-16 k.
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