Tommy_Trader

Bitcoin starting new impulsive wave

Long
Tommy_Trader Updated   
BITFINEX:BTCUSD   Bitcoin
ABC corrective waves that has been going on for a day or two, has officially ended and now we are on wave 3 (yellow).
Now we are currently done with the wave 3 (green) and wave 4 and 5 is expected soon.
I targeted the wave 5 to 1.618 fibonacci extension of wave 1(yellow) as wave 3 (yellow) falls beautifully into 1:1 extension of wave 1 (yellow).
Comment:
sorry let me correct myself. We are on wave 1 (yellow) of the bigger wave 3.
Comment:

What seems to be the green wave 4 is heavily supported by the 0.382 fib retracement of the 1:1 extension of the green wave 1.
I know green wave 1 and 3 overlaps a little bit, but this could absolutely be tolerated if the candle stick closes above the 0.382 fib. In this case both of the wave 1 and 4 is will be composed of upper shadow and lower shadow, respectively.
Comment:

Youtube: bit.ly/Tommy_TV
Telegram: bit.ly/Tommy_Main
KakaoTalk: bit.ly/Tommy_kakao (PW:1324)

Free VIP 및 강의 문의: bit.ly/Tommy_VIP
트레이딩 MBTI 테스트하기: tradingmbti.waveon.io/
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.