Bitcoin forming a bearish rejection in H4 timeframe and it's forming a resistance around $39,560 USD. So, the long position in Bitcoin may to fall about my target to $43,500 USD. As I look a new perspective to shorting Bitcoin.
Now, the H8 timeframe it's very clear this resistance zone and also, it's forming a bearish hanging man in this timeframe, but I don't...
A fan divided by fib ratios and a midline.
The fan expands from a single point.
The lines represent support/resistance.
Price action interaction :
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// Durbtrade
A detailed ABC flat into an ABC ZigZag. It's hard to look past the previous short ,however with my wave count, I have to trade on what i see and not on what it makes me feel like. A reaction of the 38% fibo, gives me a forecasted 1.161% target to the daily fibonacci speed fan trend line.
Not a nice correction to trade but I'm back in this move. On a lower timeframe there are impulsive waves that offer validation that this has the potential to go the distance. Another key thing to consider is that this pair hasn't re-tested the trend line it broke, which normally is a signal that at some stage it will. I'm also deploying a divergence indicator into...
