2. Pattern(Usually lead to breakdown)
Below are basic facts about
AB can retrace up to 78.6% of the XA leg
BC can retrace between 38.2% – 88.6% of AB
CD can be an extension of 1.618% – 2.618% of AB
CD can also be an extension of up to 1.272% – 1.618% of XA leg
The point D is known as the PRZ or Potential Reversal Zone
3 elements define PRZ:
1.27 extension XA ( the most important)
BC projection – we choose the projection which gives the most compact PRZ
or its alternatives.
With this above pattern analysis we should see BTC at the region of 4800$ sooner or later.
Join our discussion room for more about our trading ideas.
Please share your thougths about it and support my post with your LIKES.
We earlier talk about and pole that targeted at 4800$ with this making the target to be stronger.
We talk about potential CUP formation also