Hi everyone 👋🏽
🕊 Wish y'all have a profitable lifestyle 🍀
📌 BTC/USDT DAILY CHART
📌 PRICE ACTION - E-WAVE ANALYSIS - FIBO
📍 Bitcoin has had a fake breakout at the 52k price zone which shocked so many and cheered some up.
📍 I personally, thought the price could actually touch the 53k-54k price zone and after that we would see a dump to these levels or even deeper.
🧐 Looking at the chart from the E-wave point of view I give 1 (new cycle) and "B" (corrective cycle) both same possibility.
✍🏼 If the latest wave is considered the "B" wave we can clearly state that the the 0.618 Fib has been reached then we had a slightly sharp down-trend to 44-45k price zone
✍🏼 And if we take the latest wave as 1 (new cycle), we can still claim that; the price has not even retracted 0.382% of the first wave; which is typical for the corrective "2" wave...
... to be continued ...
🕊 Wish y'all have a profitable lifestyle 🍀
📌 BTC/USDT DAILY CHART
📌 PRICE ACTION - E-WAVE ANALYSIS - FIBO
📍 Bitcoin has had a fake breakout at the 52k price zone which shocked so many and cheered some up.
📍 I personally, thought the price could actually touch the 53k-54k price zone and after that we would see a dump to these levels or even deeper.
🧐 Looking at the chart from the E-wave point of view I give 1 (new cycle) and "B" (corrective cycle) both same possibility.
✍🏼 If the latest wave is considered the "B" wave we can clearly state that the the 0.618 Fib has been reached then we had a slightly sharp down-trend to 44-45k price zone
✍🏼 And if we take the latest wave as 1 (new cycle), we can still claim that; the price has not even retracted 0.382% of the first wave; which is typical for the corrective "2" wave...
... to be continued ...
Note
however, we shall wait for 2 confirmations: 1- Breaking of this trend-line
2- Touching the latest Fibo levels
then I see 2 scenarios :
A- Touching the 0.32% or even the 0.5% then we may see bullish signs!
B- Touching and breaking 0.618% and we see further down-trend movement
Note
📍 Another very important factor is the Total chart. ⚠️ Which does make me a little bit worried.
✍🏼 I can see a fractal in these supply and demand areas.
Note
You can see my TOTAL analysis in my page vie the link below 👇🏼
Trade closed: target reached
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.
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.