BTC - Flat Correction - FIBO mConfluence in game !!
Updated
Hello trader,
Nice week and profitable deals đź’˛
Feeling the turmoil in the market regularly...Even though I'm just a small fish, I take it upon myself to blame the FED for it.
They started the tepppan much too late and denied until the last second that this inflation was not just temporary.
On the contrary, it could also develop into hyperinflation!
Even if BTC is an integral part of the markets, it has repeatedly failed to demonstrate the intrinsic value of gold!
Now to the technical part:
The last drop in BTC ended exactly at the 0.887 of the double top, which indicates a FLAT correction that can last for a long time and stopped exactly at the
FIBO confluence 0.887 - 0.236 and Pitchfork 0.5.
Also the 3 stopped at the Fib Extension 2.0 - Pitchfork1 and logscale Pitchfork 1.5!
It's easily possible that we'll stop at the next Confluence point before things start going up again.
This would be 0.382 and Pitchfork1 or Median Line !!
I would like to mention that all I post are just options and my own opinion!
Always trade with SL, and do not risk more than 1% of your portfolio (max 3%) per trade.
➡️If you like my posts smash the like👍👍 button, comment or follow me.⬅️
Thanks for reading my ideas,
Trade save !!
Nice week and profitable deals đź’˛
Feeling the turmoil in the market regularly...Even though I'm just a small fish, I take it upon myself to blame the FED for it.
They started the tepppan much too late and denied until the last second that this inflation was not just temporary.
On the contrary, it could also develop into hyperinflation!
Even if BTC is an integral part of the markets, it has repeatedly failed to demonstrate the intrinsic value of gold!
Now to the technical part:
The last drop in BTC ended exactly at the 0.887 of the double top, which indicates a FLAT correction that can last for a long time and stopped exactly at the
FIBO confluence 0.887 - 0.236 and Pitchfork 0.5.
Also the 3 stopped at the Fib Extension 2.0 - Pitchfork1 and logscale Pitchfork 1.5!
It's easily possible that we'll stop at the next Confluence point before things start going up again.
This would be 0.382 and Pitchfork1 or Median Line !!
I would like to mention that all I post are just options and my own opinion!
Always trade with SL, and do not risk more than 1% of your portfolio (max 3%) per trade.
➡️If you like my posts smash the like👍👍 button, comment or follow me.⬅️
Thanks for reading my ideas,
Trade save !!
Note
Here are other log scale posts an Bigger picturesthat may still be of help:
Note
Note
sorry 200 MA CrossNote
Also a good indicator is BTC.D
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