Simple chart analysis for BTC update
Updated
A to B of ABC correction finished. B to C correction in process. Expecting to hit double top.
- I believe that since news are cloose chart will do a doji of what it have done for now. It's better to take the risk.
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Chart has break 300% limit. It will probably reach 423% then.
Note
Minute 5 timeframe E.W. shows that chart will reach 400%.Note
Minute 5 E.W. Finished in even minor E.W. So bullishtrend is aceptable, but it can take some time.
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I have nottice a manipulation on m5 on the uptrend E.W. . Probably is telling that is in accumulation phase for the news.Trade active
Chart went down to finish correction. It will go around 600~500 probably because that was the limit of m5 E.W. .
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Micro E.W. detected and finished reaching 300% of fibonacci.
*Fibonacci is between the 4 peak and 2 peak of micro E.W.
*It is expected to see chart do another one toward above open trade.
*Since news manipulation is in process it will be wise to close trade when on profit or close to it. Otherwise, chart may do a second manipulation toward 67k. I say this because first E.W. that I analyzed was on H4 and 300% was on 67k. I ignore it taking in consideration H1 E.W. . But now it's a mess.
*Scalpers can keep following micro E.W. and keep getting profit while keep SL on number 0 of E.W.
Trade closed: target reached
Target has been found. No more buying is necessary. H1 and H4 300% limit has been hit.
it actually keep going high, and formed an H4 minor E.W. . Now sell option is open to do so.
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