XBTUSD - BTC Forecast with "The Golden Fib Approach"
Updated
See my previous BTC chart to know where I went short for a few swings and was stopped out in profit as it broke the first resistance level. But now we are topping out at the second resistance level where I believe is another chance to get short. As you'll notice on my previous chart it rekt our fib and made new patterns for us to examine. The one you see on this chart is the one I believe can accurately measure the next few moves. Granted ANYTHING can happen, this is just my personal prediction and most likely how I will be playing it. NOT FINANCIAL ADIVCE.
So.
Using this price action pattern we can see it already hit our second (1. 6345) golden line, where we can expect, for the most part a pull back to maybe 5950 (.5 golden line). Watch for a forceful blip above the 3645 for more probability of upward continuation. I will be ladder shorts from here to the 6568 range with a tight stop above (6568). If it breaks that it will continue up, if not expect, at least, a small pull back but prepare for a bigger one. NOT FINANCIAL/TRADE ADVICE - TRADE SAFE.
So.
Using this price action pattern we can see it already hit our second (1. 6345) golden line, where we can expect, for the most part a pull back to maybe 5950 (.5 golden line). Watch for a forceful blip above the 3645 for more probability of upward continuation. I will be ladder shorts from here to the 6568 range with a tight stop above (6568). If it breaks that it will continue up, if not expect, at least, a small pull back but prepare for a bigger one. NOT FINANCIAL/TRADE ADVICE - TRADE SAFE.
Trade closed: stop reached
Literally the day i posted this it blew past to the 1.75 orange line. The force it used makes me think it will reach the last 2 golden line. I'm not longer hedged short, waiting for failure to gain.
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