BTC H1 I'm still looking for price to break above red line for an expanding flat, if it turn's out to be running flat, red line won't get broken and price could fall anytime from here. I have expanding flat illustrated because there's a possibility we may be getting 12345 ending diagonal (not illustrated) in the internal wave C to complete the B wave
Scalping the buy breaks on the lower TF's is dangerous as upside for now is limited because the larger impulse is to the downside to complete the H4 structure.
1) Yellow line up the top is the invalidation point 2) I'm only looking for sell's, upside is limited 3) Wait for confirmation there's more downside to come with impulse down and bear flag on the lower TF before jumping into any sell 4) I'm expecting the yellow line at the low to be broken so look to TP on any bullish signal under that level
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H4 possible structures I'm looking at that fit my H1 analysis <deleted>
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Click on the chart and read the details for the update, Thank's <deleted>
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Now things have come a little more complicated since my last update. Price didn't break above red line before price dropped breaking the low so now we either have bear expanding flat for one more down (which only experienced traders should trade) or were going up from here. The H1 TL is holding at this stage so I don't see any buy setup. Inexperienced traders should just sit aside for the time being until we get cleaner setup.
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Possible Buy setup, read idea details for full rundown. Thank's
Long term it will look more like this imo even if do not claim final target but I just pops out of this TA.
Boon2
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@ATCG, Thanks for sharing, Yes you could be right but I have a few reasons why I think BTC will either give running or expanding flat on the D1 for much larger correction, mostly because of all the price action i'm seeing.
cardan6006
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in the next few days to wait for 5600?
Boon2
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@cardan6006, As per my analysis I'm expecting the yellow line at the low on H1 to be broken to complete that particular structure. Once price breaks it, price can turn at any moment or could keep going for some time, No one will ever know how far the C wave will go, so if your in the sell just move it to BE, if your not wait for bear flag before jumping in.
The break below H4 yellow line may come at a later time (see H4 pic)as that's a different structure.