H4 TL still holds after nice correction. Don't miss the next impulse. BTCUSD H4 Update, Z down? Checkout the idea detail's and update's for the complete picture.
@TradingShot, Yes H4 Z will complete the internal D1 wave C down giving bullish divergence on the H4. Where Z ends is anyone's guess, to complete the structure Z only need's to just break below Y. Do I think the top will be broken after the low is in place? defiantly not but we should get a med-longer term reversal.
TradingShot
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@Boon2, Thanks for the explanation. Personally I doubt that (z) will take place but it all depends on the 3000 zone support levels. How well they will hold, if and how strong buying will be on those levels etc. I have spotted numerous indications though suggesting that December was the cycle's bottom. Let's see.
Boon2
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@TradingShot, If 3k gets hit it means Z down happen, nothing in the price action has suggested to me a reversal has started, we only have a correction and no impulse. when the impulse does happen you will have no doubt's about it, it will be crystal clear.
TradingShot
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@Boon2, If 3000 gets hit of course there are more chances of that happening. When I say the 3000s support levels I mean 3815 and 3570 as illustrated on my chart.
f3rG0D
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TradingShot
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@Anonymous_Learning, Well let's see first how 3800 and 3630 will do first.