Ladies and gentlemen, i'm more than happy to celebrate my 1500 followers. A big thanks to everyone who supports my (free) work. For this great occasion, here is a new BTC chart, i hope you will enjoy it.
It's been a long time since I published a BTC chart. For my french followers, there is a french video in 2 part on TradingView (which has been working well since...
The bullish AB=CD is a measured move down chart pattern except that the turns are located using Fibonacci ratios.The pattern correctly predicts point D 57% of the time. By using the next higher Fibonacci ratio in the measure rule, you can boost the accuracy somewhat, to 65%. What Is an ABCD Pattern? Reflects the common, rhythmic style in which the market moves. A...
ABC is approaching our first resistance at 87.12 (horizontal pullback resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur to our first support at 81.08 (horizontal swing low support, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
