so just as I called in an earlier post. I spotted an ascending triangle on BCHSV/USD. I also called for a .618 Fib retracement.
This is very simple. first thing I do is identify a chart pattern. after that I see where it started and kinda find where it came from. just tracing the coins footsteps.
once I find where the pattern came from I start counting Elliot waves.
lastly, I determine which direction it is going, how far it will/can go, and decide if it is too late or a good time to enter a trade based on Fib ratios.
VERY SIMPLE.
Pattern Elliott Waves Fibonacci
here is the first one. you can see a smaller fractal was in place. Now the bigger one has been completed.
@Big_Bull, honestly it can go either way kinda depends on BTC. But I wouldn't try to trade at this point. Mainly because I like to find confluence with a chart patten and EW first. RN I see it going a little farther down then a bounce up. But I wouldn't even bother RN.