Hi everyone, just an update following up from my two previous chart ideas (Long and Short Views - Please see Related Ideas).
Yes as we see everywhere, it's glaringly obvious that it appears that we have formed a "triangle" and that price has broken above that triangle and is going up currently.
This could possibly still be a valid view.
However, here is an alternative view (screenshot below).
I'm waiting for price to break below this short term THICK, black uptrend line to indicate that the B wave is underway. If price does this, it will give me some indication that this path drawn out is a possibility.
I want price to then drive back up for the C leg of the bigger B leg correction, ending at a point where we've come back to tap the "MAJOR Uptrend Line" once again as resistance and rejecting off of it and the blue horizontal resistance line near the peak of where "Wave 4" ended.
This indicates that price/the market does not want to go past this point and if it begins falling then we could see the price of Bitcoin get driven down for LEG C of the ABC correction.
Don't forget to give this idea a THUMBS UP if you enjoyed it and follow me for further updates, i would really appreciate it :) <3
Yes as we see everywhere, it's glaringly obvious that it appears that we have formed a "triangle" and that price has broken above that triangle and is going up currently.
This could possibly still be a valid view.
However, here is an alternative view (screenshot below).
I'm waiting for price to break below this short term THICK, black uptrend line to indicate that the B wave is underway. If price does this, it will give me some indication that this path drawn out is a possibility.
I want price to then drive back up for the C leg of the bigger B leg correction, ending at a point where we've come back to tap the "MAJOR Uptrend Line" once again as resistance and rejecting off of it and the blue horizontal resistance line near the peak of where "Wave 4" ended.
This indicates that price/the market does not want to go past this point and if it begins falling then we could see the price of Bitcoin get driven down for LEG C of the ABC correction.
Don't forget to give this idea a THUMBS UP if you enjoyed it and follow me for further updates, i would really appreciate it :) <3
Here is an perspective of what i see for wave 4.