Happy easter Monday to erbody in Aus!
instead of eggs I’ve been hunting the golden ratio.
As we can see here we have a nice Fibbonaci trend matching a 5 wave elliot with a WXY correction wave. In the Fibonacci B section I’ve shown the 3,3,3 pattern for you of a WXY correction, but it gets a little small in the d section to map out so you’ll have to trust me.
If the waves continue to line up with the Fibonacci date sequence we should see another low on May 5th. However, given the descending wedge building pressure at the end the cycle is going to break up or down. The consensus seems to be down, but I’m not so bearish.
Two signals showing reason to go long:
1) in Fib e, waves 2 and 4 close on or above the green trend line, being the average of the 10 close points it acts like a support and resistance for shifting trends.
2) the 3rd correction wave of the series closes above the x trend line.
I feel like BTC is our hero, hanging off the edge, And no matter how many times his fingers are trampled on, he doesn't let go. One hand slips, 4 fingers left, now 3, now 2? But we know our protagonist will be saved somehow!
*Disclaimer: don't take trading advice from anyone built on a narrative.*
Good luck and count those bull pins!
instead of eggs I’ve been hunting the golden ratio.
As we can see here we have a nice Fibbonaci trend matching a 5 wave elliot with a WXY correction wave. In the Fibonacci B section I’ve shown the 3,3,3 pattern for you of a WXY correction, but it gets a little small in the d section to map out so you’ll have to trust me.
If the waves continue to line up with the Fibonacci date sequence we should see another low on May 5th. However, given the descending wedge building pressure at the end the cycle is going to break up or down. The consensus seems to be down, but I’m not so bearish.
Two signals showing reason to go long:
1) in Fib e, waves 2 and 4 close on or above the green trend line, being the average of the 10 close points it acts like a support and resistance for shifting trends.
2) the 3rd correction wave of the series closes above the x trend line.
I feel like BTC is our hero, hanging off the edge, And no matter how many times his fingers are trampled on, he doesn't let go. One hand slips, 4 fingers left, now 3, now 2? But we know our protagonist will be saved somehow!
*Disclaimer: don't take trading advice from anyone built on a narrative.*
Good luck and count those bull pins!