So, we see a 4 grand waves, with their subwaves I've highlighted on top of the candles. Below I've highlighted the grandwaves with their respective retracements.
We're currently in a descending wedge which is slowly entering the golden fib zone for the entire impulse move upwards from $80.
$108-112 is where I will be longing with a stop loss at $104, targeting $130,135,142, giving me a RR of around 3:1.
It may be possible to see a final wave taking us to that blue box at around $175, but this is dependent on BTC , and also with the stock market which has been undergoing serious correction in the last few days in particular.
We're currently in a descending wedge which is slowly entering the golden fib zone for the entire impulse move upwards from $80.
$108-112 is where I will be longing with a stop loss at $104, targeting $130,135,142, giving me a RR of around 3:1.
It may be possible to see a final wave taking us to that blue box at around $175, but this is dependent on BTC , and also with the stock market which has been undergoing serious correction in the last few days in particular.
Comment:
Well... 45 minutes after the chart is posted and the first two targets are hit
Comment:
All targets achieved, now to see whether we hit the $175 mark for the final and fifth