TradingView
AliBahaari
Nov 18, 2021 11:05 PM

BTC keeps collapsing Short

Bitcoin / TetherUSBinance

Description

📝💰 Due to the chart, BTC would form three probable patterns:
1. Running Flat
2. Running Triangle
3. Expanded Flat

The PRZ zone is the area I've specified by using Fibonacci. So collapsing is certain, but...
Running flat and expanded flat have impulse formation but running triangle not (A-B-C formation). Since wave 4 is often a triangle, so A-B-C is more probable.

I've also used Ichimoku. A long flat Senkou Span B along with a thick cloud, it's informing us this topic which I can't pass it nowadays. Thus I think it would form wave B which is a upward wave and finally wave C would be formed by passing the cloud and more collapsing is on the way.

💣 In conclusion, I can say just be patience and ready for short positions.

🌐 My website: alibahaari.github.io
Comments
TheBluesFX
It is expanded flat
AliBahaari
@TradingTimePrice God knows.
TheBluesFX
@AliBahaari B wave is taking out the top of A wave and then retraced quickly in impulsive way. Looks like 3-3-5 to me.
AliBahaari
@TradingTimePrice, Also consider running flat and running triangles.
TorontoRG
Why reason Bitcoin going down?
AliBahaari
@TorontoRG Technical analysis says.
More