BTCAUD BUY TRADE SETUP FOR INTRADAY.
Please manage your risk. Use Stop loss. And do not take blind entries.
If you have a question let me know. If you want to analyze any pair let me know.
This is just an idea. What we see.
The Market can go in the opposite direction, what we analyze. So we have to manage our risk and adopt the situation accordingly.
Price bounced perfectly at the fib cluster i linked in this post -
We have a couple scenarios here. There is a bearish pennant forming, but also a bullish Gartley pattern.
I like that buy zone around $6500 and my plan is to scale in at that price, if price...
bullish structure within range, current swing leg pausing for more orderflow, momentum potentially holding on . Crowd psychology and market sentiment is considered with my discretionary trading. Price's tight ranging and happy atm, l'll monitor how,if, and when price pulls back lower in and around levels of interest. Neutral views anything can happen, entered...
ON THE 3 MIN CHART
The price has crossed both lower EMA indicators and is looking like approaching the 200 EMA resistance level.
RSI is oversold and MACD Histogram is showing peaking green.
As I have been writing this there has been 2 bear candles falling quickly to half the height of the previous bull slope although two more waves lengthen...
I am seeing a bullish HVF setup in the BTCAUD pairing. This is contra to most USD markets which are showing a descending triangle.
Everyone is seeing the bearish descending triangle which makes me sceptical. This whole bull market thus far has been the result of short coverings. I don't think that is about to change now.
Get ready for more shorts to get REKT and...
WXY correction move from 18311 to 12990 is 5 waves
move from labeled a wave to be wave is 3 waves if true wave C will be equal to A wave which fitts into a gap in the market at $9179-9425 will take time but this gap will be filled at some point
This chart projection is valid for all BTC vs Fiat. We are in a parabolic move that targets AU$900.51
In my opinion BTC will want to test the bigger number. $1,000 and could go even higher and stay sky high, as BTCs are of limited availability and still subject to laws of supply and demand it is hard to put a final price target.
It is interesting to compare BTCAUD vs BTCUSD, BTCJPY, BTCGBP, BTCEUR etc
pull up an Ichimoku chart and add Fibo retracements too.
AUD is leading the way !!! it is well above the 76,4% retracement, the other fiat currencies have some catching up to do.
Price above the 76,4% means there is a good chance it does a full 100% and test the highs.