We have an opportunity to take long position toward next long (green) cycle.
Everything is on chart, ongoin bullish divergence like 2 times before during red cycle...Full moon with date on 29th of may. BTCUSD bottomed twice around full moon with very similar price movement in last 2 redcycles. Having that in mind we should see some upward pressure toward 15th of...
Bitcoin is heading toward very important area, looks like we have classic ABC corrective structure with B wave as running flat...that gives us an opportunity to take long position in 6800$ area. Confirmation of short term trend reversal would be breakout above red trendline. Otherwise, we may hit 5900$ area.
Here is D1 chart with the price behaviour below very...
Chart says everything, lower volume, ending diagonal.
Just wait for 5th wave to blow off on big volume, then we sould see some strong reversal with first TP ~8k.
Entry area marked on chart.
ETHUSD is still developing corrective 2nd wave structure...We have 2 potential H&S and iH&S pattern formations.
Bullish iH&S (red) with right shoulder around 750-700$ and bearish one (blue) with potential right shoulder ~880$.
Maximum target profit for bearish H&S goes exactly to the recent low around 570$. In my opinion technically we should see at least retest...
- ABC correctin with maximum ext 1.618 ~151.60
- 0.618 of last big downward swing
- Maximum extension for this corrective structure
- bearish butterfly pattern
Long area: 80-90$
- End of impulse on 0.706 retracement (typical for 2nd wave)
- ABC corrective structure
- Potential all-time bullish gartley (measured from "0" to price extremum)
- 1.414ext of wave 3
- 1.272ext of wave 5
- Possible extenstion measured on wave 3 length
Resistance zone (place to short) ~175$
Hello traders, What if I told you it was just 1st wave?
I created this analysis to give you some insight into current BTCUSD -3.65% outlook.
As we can see on the chart above BTCUSD -3.65% is developing currently corrective structure. Looks like it's clear ABC (5-3-5) corrective structure (chart below). I marked all waves since the BTC's beginning and in my...