As can be seen from the BTC chart, the major expanding triangle pattern appears to be complete. On the chart, point 5-5 corresponds to point 2 on the Fibonacci timeframe. While a deep decline at point 1 on the Fibonacci timeframe doesn't necessarily mean a similarly deep decline at point 2, we can consider this as supporting our argument.
In the current situation, I believe it would be inappropriate to talk about a new rise unless the upper band is broken. In light of all these wave principles, price accumulation at support levels should be observed.
Please note that this projection, created for professional traders, is a probability based on new wave scenarios and carries the risk that the price may move outside our expectations. This is not investment advice.
In the current situation, I believe it would be inappropriate to talk about a new rise unless the upper band is broken. In light of all these wave principles, price accumulation at support levels should be observed.
Please note that this projection, created for professional traders, is a probability based on new wave scenarios and carries the risk that the price may move outside our expectations. This is not investment advice.
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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.
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.