BTC - a last dip before new ATH ?The chart is in 3H cause couldn't zoom out more with lower timeframes :((
Pattern recognition at its best
since the low of the 10 October, the price action is an extremely exact copy paste of march/April ATH :
- A significant top, ATH for the first pattern and 3 months high for last week
- first take profits, to 200MA 4H for the first pattern, to 100 MA 4H, 4 days ago
- 2nd wave and 3rd wave higher than the second (almost hit ATH), the second wave has been made and BTC will probably make the third tomorrow
in April this followed a correction. The pattern was bigger in April in % price and in time, so we should see shorter waves and lower price movements now.
The conditions for this to continue as the last time and to see the last dip is to have a 3rd wave going around 69K :
- if we break above 69k the pattern get invalidated
- if we stay to long time above .618 fib extension at 66K3 the pattern get invalidated
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Careful don't mind me, I'm neutral on this idea, and will not do anything before seeing a clear path. What changes now from April is that the halving was priced in way before so I'm seeing also lot of reasons why prices could just go above 69k and fly from now
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Last but not least, BTC is for the moment following the orange path from my precedent idea, putting my target for fall 2025 at 240K, but this can change a lot
Good Luck
Cheers
Shot
✅GOLD HOW TO TRADE? |SHORT🔥
✅GOLD s trading in a downtrend
And the price has make a pullback
From the falling resistance
Now, it is retesting a key level
So IF we see a breakout to the
Downside, then Gold will go down
IF the price breaks the falling resistance then the setup is invalid
But for now the bearish scenario
Seems to be more probable
SHORT🔥
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USDJPY Trading IdeaSo if you missed the first entry which is too risky and I understand why you probably shouldn't
and that is fine. Do not chase it down but wait for it and a small ABC (abc if you are an Elliott gal.
Wait for this move in green which should look like an abc and place a sell order in the red circle area.
Of course this is only a hypothesis so we can't be certain when this move (pattern) will happen or
what price range, this is just to help you understand how to cultivate patience, and create a trading
plan and not "chase" the trade. By the way, pretty good analysis huh?
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To enter, wait for channel break followed by a bear flag, then it’s safer to enter the market. Fibonacci retracements can be of a better use if price rejects your fibs level with other confluences such as 21 ema cross, etc. Good luck traders and have a blessed week.