SimonMercier

BTCUSD : 2 targets. end point at 7.4k

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Hi guys,

The follow up of this projection. This past post is full of informations that I wont repeat here again :


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Its time to name this structure. Ive talked enough about my doubt of a major impulsives waves pattern. It doesnt fit. But the good news is this projected ABC finish right at the same spot as if it was a major impulsives waves i.e. if point AB was 1-2 the wave 3-5 would end near the same zome.

Normally C is 1.618 wave A or beyond and it ends right at the resistance

Daily ----- Right now, price fight the MA100 zone :



4h ------ For now the 4H looks like it needs to colddown a little bit. Ive highlighted here a potential reversal zone :



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Subsequent updates will follow
Trade active: one more leg down for the 5th. target zone will be reached :

Trade closed: target reached: 4H target reached :

Trade active: I was warning you about the need to colddown a little bit, it happened. Update now. I added a scenario B since it retraced a little bit too deeper under support. If daily MACD continue the contraction expect further retracement at lower support :

1D :


4H :
Comment: Full idea : It become obvious that we are moving in ABC. This is my full idea. You can compare this ocunt with the orignal post. you will find the exact major move. The purple line in the orignal post was to highlight the minor ABC structure for the major ABC structure.

In fact, it will be perfect to continue the dip a little bit lower near 6225-6285. We should see a spike in volume at B (where the supports at) :

Trade active: i said : *In fact, it will be perfect to continue the dip a little bit lower near 6225-6285.*

now it seems that the market react accordingly to this

In fact, it will be perfect to continue the dip a little bit lower near 6225-6285.



Now lets watch
Hey @SimonMercier, have you ever played around with trying to find the algo targets instead of EW's? I've found greater success at this point using the algo targets, over EW. Obviously that is my own preference, but I've gotten rekt a few times here trying to find the correct count. As a novice, clearly in this setting isn't the way to go for me. LOL

Anyhow, Once I'm all set up here @ work, I'll link one just to show you what I'm talking about. I don't do very well explaining it.
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Nice work, Simon!
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@Kgear117, thanks brother !
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