Bitcoin - Sideways for a few days ?
Price seems to have made an impulsive move from the July low to the 70k high.
This means we're now in the correction phase.
I'm leaning more towards a higher degree impulsive move, this means the consolidation can be anything but a Triangle otherwise that would make the move a potential Zigzag or other complex combination.
Typically, the optimal zones for a reversal are situated around the 50% and 61.8% Fibonacci levels.
TLDR; Price is still consolidating. Not yet time to buy.
This means we're now in the correction phase.
I'm leaning more towards a higher degree impulsive move, this means the consolidation can be anything but a Triangle otherwise that would make the move a potential Zigzag or other complex combination.
Typically, the optimal zones for a reversal are situated around the 50% and 61.8% Fibonacci levels.
TLDR; Price is still consolidating. Not yet time to buy.
Don't forget to like, share and follow !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Related publications
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.