If this immediate impulse continues to the upside, the impulsive wave 3 will be able to reach 47k USDT (Fibonacci level 2.618) to complete its wave formation. However, the traditional wave 3 is at level 1.618 Fibonacci ratio (41k USDT) but due to the massive correction on previous bearish impulse, the price might reach Fibonacci level 2.618 at 47k USDT....
Price has finished its Triple Zigzag correction and currently breaks the Downtrend Line (DTL)
Both Projections of Harmonic Butterfly Pattern & Fibo Ext Projection shows the same TP level
Harmonic Butterfly Pattern TP Level at Fibo level 0.618 which is 1.3078 USDT
Fibo Ext Projection from Wave 4 - 5 and correction TP level at Fibo Level 1 which is 1.3064...
The Price has gone dip following the BTC Huge Correction this past few days.
In the 15minTF, the price is trying to break the immediate SBR and has formed Inverted Head and Shoulders
**This is not a buy call. Strictly for #casestudy
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The GAGAK Trader
BTCUSDT has made its major corrective wave after a good long run of 5 Major Waves to the ATH 64,854 BTCUSDT
Price rebound on its immediate Resistance-become-Support (RBS) at 38k BTCUSDT.
If the price is able maintain above the RBS and break the Downtrend Linde (DTL) which projected from its peak, The Harmonic Pattern - Bullish Cypher Pattern...
Expected for PARLO to start the reversal trend once it hits the expected FIBO Polar RM 0.495. If the reversal starts earlier, it is expected to swing mid term to RM 0.60 and swing long term exceeding RM1