Bitcoin has been slowly playing right into our hands.. I see more Downside and I'm looking for a few places to trade short term. I believe we are in an impulse move to the downside. currently in a wave 3 on a smaller degree. im looking for the corrective structure to complete and for price to break out signifying more downside.
Check this out! We should have a short term buy setup on the 15 min. dont hold for long... maybe a few hours... if we get a pullback with a 3 corrective pattern we are in on the break of the structure!!!
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Im a stickler for big titles..lol this is my approach to looking at the potential reversal zone or completion zone for BTC.
the fib Extension of the previous C wave of the 1st Corrective Structure is what I am using. I believe that if we are indeed in a C Wave of a correction,,, then it should retrace to at least the 127. Extension of the previous C leg. As we...
As I am plotting out possible senarios to this complex correction on the 240M Chart, I am having to get into the lower time frames to help me sort out these movements.
I see on the higher time frame (240M) :
-Impulse completed.---Then price makes a wicked irregular Flat, breaking the top of wave 5 and falling pretty far.
-Price then rose to the 61.8% fib of...