Morning everybody,
Our 3-Drive "Sell" that we've discussed last time on daily was disrespected by BTC market and has not triggered any major retracement. But this is doesn't change the core of our major trading plan.
Sooner or later but major retracement will start, this is just how market works. Our suggestion - once it starts it should reach ~6500$ area. Trading plan now stands as follows. We estimate next potential upside target on daily
and once it has been hit, we watch for reaction, whether retracement starts or not. If not - we estimate next upside target.
Now, next level stands relatively close - 10100-10200 area. This is AB=CD target and 1.618 extension of previous retracement (you could treat it as butterfly "Sell" as well).
So, let's see what will happen there...
Our 3-Drive "Sell" that we've discussed last time on daily was disrespected by BTC market and has not triggered any major retracement. But this is doesn't change the core of our major trading plan.
Sooner or later but major retracement will start, this is just how market works. Our suggestion - once it starts it should reach ~6500$ area. Trading plan now stands as follows. We estimate next potential upside target on daily
and once it has been hit, we watch for reaction, whether retracement starts or not. If not - we estimate next upside target.
Now, next level stands relatively close - 10100-10200 area. This is AB=CD target and 1.618 extension of previous retracement (you could treat it as butterfly "Sell" as well).
So, let's see what will happen there...
ForexPeaceArmy BTC analytics :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/