BTC
Lots of chop designed to confuse, but this contracting area could be the second wave of an uptrend following the bullish running 3 wave correction.
I think there is a good chance of this.
It now would appear odds on that the lows of this corrective area will not be revisited 😯.
Not advice.
Lots of chop designed to confuse, but this contracting area could be the second wave of an uptrend following the bullish running 3 wave correction.
I think there is a good chance of this.
It now would appear odds on that the lows of this corrective area will not be revisited 😯.
Not advice.
Note
The ascending line was was broken to the downside and with impulse.This area is becoming quite similar to the previous re-accumulation that led to the pump:
Plenty of short term wobbles, bearish threats but each bearish impulse was bought up quickly and in the latter phase; the lower pivots of the trading range were not threatened at all.
Let's see if something similar happens here 🧐.
Trade active
As much as this area can chop and look dangerous in the short term, a key detail is that a bullish running 3 wave 1:0.618 GW correction has already completed.And so until the $93K pivot gets taken out, then this move up has a decent chance to be the following uptrend 🧐.
Note
The big bullish clue in the previous re-accumulation was when it Pattern Separated from unpleasant slumps into a shallow cause building descending channel.We may see something similar again 🤨.
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Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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.