hey guys welcome to another update of Bitcoin XBT, if you're new here and did not check the series of my "same old pattern" charts, i'll recommend you to check this idea below first, than proceed ahead coz this idea is correlated to the previous series.
now nothing to surprise here for me that Bitcoin change the fractal as projected in chart, obviously market always have surprises for you and you should be flexible with your trading style and quickly change your mind if things dont go according to your plan. now according to above pattern prices have change their formation but the allover direction is same so we can assume that bears are still strong and allover result of this formation could be a massive drop. but as always every growth goes through a correction and every correction goes through a growth. so we definitely can expect a pump from here of 1000$ to 1300$ and definitely its a great money making opportunty for us.
you'll see above two formations, the blue one is the higher degree and the orange one is lower degree pattern for more precise calculations. notice in projected pattern that after making a flag formation exactly between the levels of fib618 & fib786 prices exactly dump to the support of fib786, but here the prices dump upto fib1618 which is at 9140 and gained massive support.
now from here am expecting a pump towards fib786 which is around 10645 but this rally could also reverse from fib618 around 10330, after this rally prices could enter in triangular consolidation pattern for next few days which could breakdown.
meanwhile also have a look at this 4h wave formation chart, notice that bullish waves are retracing from increasing fib levels, so there's a high probablity that this wave could retrace from fib618 around 10330
RSI is also showing bullish divergence in 15 min chart, so definitely things look positive for bulls in this trade
when ive started to write prices were around 9350 and now it has already crossed 9800, so better you wait for a pullback or a corrective wave between fib1272 and fib1618, or 9150 - 9500 zone, its a good entry zone and could be hitted with the next corrective wave. meanwhile you can also trade on breakout of fib382 which is around 9870, so you definitely wont miss this rally.
Long #XBTUSD from 9150 - 9500 with upto 5-10x of leverage
T1 9850 T2 10100 T3 10300 T4 10600
SL 9000
thanks guys, do comment and share your opinion with us , we really like to read you guys and keep supporting by sharing and like our ideas. thankyou this is Husain_Zabir signing out
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although the buying zone was not reached but as i've mentioned that you can also trade on a breakout when prices cross fib382 which is around 9850, so you can long from here between 9850 - 9900, still then next 3 targets are same and stop loss must be at 9500. best of luck
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Outstanding trade guys, although when we crossed fib382, the 9850 level I've signaled to long and prices hit our stops at 9500, but prices did came back to our buy zone and bounced perfectly from fib786 9275 level Look how beautifully wave 2 ended at fib786 and wave 3 begin to bang. Eventually T3 10300 hitted with upto +110% profit with 10x leverage, congratulations guys
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T4 10600 is still active guys keep taking profits and raise your stop-loss to secure your profits :)