BTC is sooo extended
Hi everyone, I follow up on yesterday's post, where I talked about RW and its goal for 42,500, where we came and launched a huge buy flow, which got us up to 45,000!
And now to the point!
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BULLISH SCENARIO
1) We maintain a massive trend or we will consolidate below 45135 (importance of levels, combination of WEEKLY + DAILY), break through with sufficient volume and test, each of these actions could lead us to 48120 - FIB 1.414.
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BEARISH SCENARIO
2) Dropped out of that gigantic RW, whose first goal is 42,200 - Daily Support, where I would expect to react again, with this move we would confirm the ABC correction, this mostly B point is 0.5 or 0.618 FIB. stretch the FIB to last swing high and low to measure potential B. In my dreams, the C point is somewhere near the POC, which could be the bottom of this correction = 39,723, for now.
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KEY LEVELS
50 839 - 1,618 FIB
48120 - 1,414 FIB
45135 - weekly + daily
42,600 (1.0 FIB.) + Last Verified Support
42 200 - daily
POC - 39723
And now to the point!
---------------------------------------
BULLISH SCENARIO
1) We maintain a massive trend or we will consolidate below 45135 (importance of levels, combination of WEEKLY + DAILY), break through with sufficient volume and test, each of these actions could lead us to 48120 - FIB 1.414.
---------------------------------------
BEARISH SCENARIO
2) Dropped out of that gigantic RW, whose first goal is 42,200 - Daily Support, where I would expect to react again, with this move we would confirm the ABC correction, this mostly B point is 0.5 or 0.618 FIB. stretch the FIB to last swing high and low to measure potential B. In my dreams, the C point is somewhere near the POC, which could be the bottom of this correction = 39,723, for now.
---------------------------------------
KEY LEVELS
50 839 - 1,618 FIB
48120 - 1,414 FIB
45135 - weekly + daily
42,600 (1.0 FIB.) + Last Verified Support
42 200 - daily
POC - 39723
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