BTC (Y20.P1.E16).Bounce.Cradle Zone
Updated
Hi All,
> We have seen a good response so far from the key resistance level (now support) which coincided with the 20 EMA on the Daily and in some peoples charts, the upper trend-line of the macro channel.
> As per chart, we were in an uptrend (show by the 10,20 EMA ribbon) and the pullback to the cradle zone is per classic bounce for the trend to continue.
> This doesn't mean we go straight up from here as there is still a possibility that we can be doing an abc move downwards, if we completed a 12345 Elliot move on the smaller scale timeframe.
Note: I found that we had completed an AB=CD when we hit the 9100 range. Although the time frame did not match, the length did.
My next target is initially 9500, however the main target is 9960 - 10400. Beyond that, 10650 to 11050.
Please don't forget to give me a tick\like, as I would appreciate it.
Regards,
S.Sari /CryptoProspa
(for my reference > ETH1 chart)
> We have seen a good response so far from the key resistance level (now support) which coincided with the 20 EMA on the Daily and in some peoples charts, the upper trend-line of the macro channel.
> As per chart, we were in an uptrend (show by the 10,20 EMA ribbon) and the pullback to the cradle zone is per classic bounce for the trend to continue.
> This doesn't mean we go straight up from here as there is still a possibility that we can be doing an abc move downwards, if we completed a 12345 Elliot move on the smaller scale timeframe.
Note: I found that we had completed an AB=CD when we hit the 9100 range. Although the time frame did not match, the length did.
My next target is initially 9500, however the main target is 9960 - 10400. Beyond that, 10650 to 11050.
Please don't forget to give me a tick\like, as I would appreciate it.
Regards,
S.Sari /CryptoProspa
(for my reference > ETH1 chart)
Note
On the short time frame, 4 HRLY, we have a downtrend, lower highs and lower lows. Hence patience is required for a good short entry, nothing of as yet.On the Daily, we are still in an uptrend and we had a large candle, but as of yet, we need more data for a good entry, if you sold or stopped out from the 9k range.
Here i'm just waiting.
Note
If this 0.382 fib level doesn't hold, then the 0.618 (7800) is my next target. If this is the case, we will have a long drawn out bottom. I still feel the bottom is in.Note
correction, 0.5 fib level not holding.Note, I had around 8000 to 8100 for the bulls to defend, so yesterday's rally could have been premature. If I was you, I'll just sit and wait until things settle.
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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