Bitcoin/USD rate (January 21st 2021 through February 5th 2021)
Low: $31,377 - $32,147
High: $35,886-$36,857
Constantly adjusting and updating this idea almost daily at this point, it looks to be playing out quite well, just not in the time frame I had originally assumed. I'm looking for the last part of this B wave down slide to hit near $31.3k to $32.2k before continuing on to the C wave? C wave could hit near $35.8 to $36.8k by end of the week near January 27th if this is the right setup. A D wave could finish by around January 31st near $32.1 to $32.7k.
I've been watching for this pattern for more than a couple days now, if it ends up being a true bullish triangle, I'm sure we will get a great upwards breakout. These trends seem crucial to be keeping an eye on for signficant breaks above or below.
Of course, the unexpected could happen at any time.
There is a chance this could end up being a bearish symmetrical/contracting triangle rather than bullish, but we will know by after February 2nd-5th. But for the most part it definitely seems like this triangle path could be reliable. However I have been wrong plenty so let's just watch for now. :)
Assuming bullish, E Wave needs a breakout around February 2nd above $34.1k, otherwise if it breaks below $32.5k by that time, it could end up being entirely bearish and we get a sickening drop >:) One thing that gives me a certain sort of clue this could be a bearish triangle is the -27% straight line drop from $42.2k to $29.9k, which I would normally expect to see some sort of lightning bolt ABC pattern on the way down if its truly bullish. But I could be wrong about that entirely.
Here are a few of the works attached in related ideas that led up to this thinking:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
Low: $31,377 - $32,147
High: $35,886-$36,857
Constantly adjusting and updating this idea almost daily at this point, it looks to be playing out quite well, just not in the time frame I had originally assumed. I'm looking for the last part of this B wave down slide to hit near $31.3k to $32.2k before continuing on to the C wave? C wave could hit near $35.8 to $36.8k by end of the week near January 27th if this is the right setup. A D wave could finish by around January 31st near $32.1 to $32.7k.
I've been watching for this pattern for more than a couple days now, if it ends up being a true bullish triangle, I'm sure we will get a great upwards breakout. These trends seem crucial to be keeping an eye on for signficant breaks above or below.
Of course, the unexpected could happen at any time.
There is a chance this could end up being a bearish symmetrical/contracting triangle rather than bullish, but we will know by after February 2nd-5th. But for the most part it definitely seems like this triangle path could be reliable. However I have been wrong plenty so let's just watch for now. :)
Assuming bullish, E Wave needs a breakout around February 2nd above $34.1k, otherwise if it breaks below $32.5k by that time, it could end up being entirely bearish and we get a sickening drop >:) One thing that gives me a certain sort of clue this could be a bearish triangle is the -27% straight line drop from $42.2k to $29.9k, which I would normally expect to see some sort of lightning bolt ABC pattern on the way down if its truly bullish. But I could be wrong about that entirely.
Here are a few of the works attached in related ideas that led up to this thinking:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
