ridethepig | BTC Market Commentary 07.02.2021📌 Clarification of the manoeuvre designed to show the third liberating impulsive leg
The following position was reached after Buyer's attack on the log chart created room for a momentum break. I chose the 'log chart' break (which was a game changer in the opening phase) as the one to track so that we could make use of the whitespace above. The way Buyer's play allows them to completely paralyse their opponent in majority . And now, I ask you: Why do Sellers permit the freeing move?
Sellers refrain from stepping in. Correctly so, because here would be the typical example of liberation . The linkage was known in the classical school of Elliot , which believed in absolute freeing momentum moves on the log breaks and surprise surprise we got it with our wave 3 impulse. This coming to consciousness via Covid is accelerating the need for cryptographic sound money.. Let me recommend to you my Yearly closing chart:
If you know the thoughts on swing chains , it is easy to outguess the concept of our opponent and understand which levels in the ladder they are naturally going to consider defending. In this particular case, we can see $53,400 as the next level to follow for Buyers.
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