everything is pretty much obvious on the chart but there are some details I would like to share with you
1. The first two scenarios (which I'm in favour of the green one) is because of a slight problem which I see with this triangle scenario
hence note the formation of the drawn arrows if the current rally advances sharply through the prior high then the downtrend...
price has perfectly reached its boundaries which had been drawn in the last analysis on Euro and now it's close to the End of the diametrical
adjusted time and price boundaries are as illustrated
As the last analysis failed due to the X-wave that occurred after the triangle it seems another triangle is forming
If and only if the market unfolds as shown on the chart entry point as well as TP and SL will be as illustrated
when the time comes I'll comment it under this post
It seems the market is unfolding as a double combination of zigzag-zigzag which in the second pattern B wave is forming as a contracting triangle
And now we are in the wave E
the bolded arrow shows the more plausible scenario
I have gone more thorough details on price movements the scenario is pretty much obvious and the possible reversal price areas are plotted as well
Yet trading on this currency is not recommended if you have bought it hold it and manage your risk
The prior scenario on gold unfolded almost pretty much accurate but based on some observations on price movements there is now an alternate scenario which is shown in green and I'm in favour of
Nevertheless, the former scenario is also drawn in light red
please note that:
everything in green relates to the first scenario
everything in red relates to the second...
apparently based on good fundamental news which had been released on alpha and the way that the price had reacted to them
And under the understanding of the pattern which seems to be forming as an impulsive wave
this coin could be a good investment option for a period of 2 or 3 months.
Straight to the point, BTC has fallen into a downtrend and as shown on the chart
A triple or double combination or a triangle might be the way that the market would unfold
but either way, the trend is down
So be careful about your positions
As it is perfectly illustrated on the chart, there will be a minor uptrend and afterwards, Gold will again experience one more drop which the whole pattern is going to take greater time in comparison to the preceding patterns which the latest one was an X-Wave
Afterwards, we will have a larger degree uptrend as a supercycle which probably will take shape as a...
SO as it might seem a bit confusing I'll go through the details
The market appears to be forming a double combination which is a zigzag-flat and in between, they're followed by a neutral triangle as an X-Wave.
so if the market unfolds the flat pattern and the C of the Y-Wave behaves impulsively the flat would be the best scenario for now, if not the pattern could...
Assuming the downtrend has been gone. It seems that it is a good time for a long term short. The following month would probably be down. And after breaking the trendline of 0-B, we will have a new trend, probably up, what comes next time will tell us