Assuming the white count for wave 1 is correct, we might now be in wave 2 (blue) of 3 (white).
This wave 2 (blue) is expected to either end on 0.382 or below 0.5, most likely 0.618-0.704, after a B leg up.
A drop below 0.886 @ 20.6k would be bearish and result in 1.272 @ 17.2k to be tested
Bags loaded!
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This wave 2 (blue) is expected to either end on 0.382 or below 0.5, most likely 0.618-0.704, after a B leg up.
A drop below 0.886 @ 20.6k would be bearish and result in 1.272 @ 17.2k to be tested
Bags loaded!
---
If you like my content, if it helps you gain profit, give it a like!
Thanks!
---
Hold my beer pls
----
No financial advice, do your own research, don't be stupid
Note
got the bounce, lets see if it can continue above local 0.382 towards 0.618-0.886Note
ok that was quick. lets see where it wants to go nextNote
what a nice wick (flat 2?) down right on 0.886.Assuming as long as that holds, trend remains up or even full force from here
Note
we done here?Note
gotta love fibs huh? lets see if bulls can continueNote
if it looks like a flag it usually is one.... capped at 0.704 fib too really needs to go soon as a zigzag1 with strong 3 next, or its gonna be much lowaNote
Although we broke down from the flag as anticipated, looking at fib levels and the kind of structure that a strong move might be just ahead, a bullish one. a new local low however would be bearish confirmation for next leg lower I think. well soon find out what BTC wants to doNote
Note
lower local low lead to lower prices27.2 is MOB
Note
since 0.886 / 27.2 was MOBBTC now has arrived at first turning point 1.272, if that doesnt hold, 1.618 next
should not go as deep as 1.886
Note
Note
since local 0.886 has been violate, local 1.272 logical next target, ideally in the 1.618spot of ABNote
well opposite 0.886 been triggered at 27.4 for continuation and it yet looks the recent lows been of corrective pattern with this new local high. lets see if downtrend gets surpassed, then a new trend could startTrade active
in the zone! possible ending of corrective pattern here. shouldnt be much deeper than recent low, than its time to blastNote
well well well, lets see how the retrace holds, thats gonna tell if correction is overNote
once it takes out the recent high, expect correction to be over and continuation towards 1.618 or 8.236 extension
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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.