Since the previous multi timeframe analysis, BTC followed the projection nicely and melted to the downside, unfortunately we missed our entry and didnt capitalise on the recent bearish move. However now the 1D candle closed respecting the previous resistance turned support and potentially forming a new HH HL formation from a 1D perspective. As you all know i have stated a number of times we are very much due a weekly bullish corrective move. Now if this structure holds we can be looking for an entry to long to capitalise on the next bullish swing. The TP will be a new HH at the -0.272 FIB, potentially even higher to the neckline of the weekly harmonic formation.
For entry confirmations we are waiting on LTF for the price to sweep the intraday lows and hit our HTF demand, before we will look for potential entry.
For entry confirmations we are waiting on LTF for the price to sweep the intraday lows and hit our HTF demand, before we will look for potential entry.
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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.