Bitcoin chart is thought to be in play of WXYXZ wave correction. Specifically, It's in progress of second X wave as known 'abnormal flat extension' wave.
So, potential c target should be reached out to 1.618 or 2.618 of A target. Let's see how it's going to play out in this pattern.
Butterfly harmonic patter is in process
I Closely gathered and come into conclusion that bitcoin could go bleach the convergence triangle perfectly in 4 hours time frame.
With butterfly patterns are we able to see the area of taking profit in green zone.
Please see the fib extenstion ratio on the righthand side bar.
MA of 50 is about to making a golden cross...
Hi, I've researched and tried to a PRZ in mid-term on bitcoin. Please see the below for the TA
1. XA : AB were in ratio of 61.8%
2. AB : BC were in ration of 61%
AB : BC was overextended over 0.382 that 0.382 area was not accepted. By the way, 0.886 were not reached out and stopped around 61 that I decided to take 0.886 Fib ratio for crab pattern
Bitcoin is on the wave to a target set, E on (4).
Let's see if the wave on the move could be reached out on the assigned target. If not, I will see the the ascending triangle pattern closed in invalidation.
Let's study on a wave (5) afterward in a timely manner..
Bitcoin correction target is thought to be around 7500 USD, which is the end point of 4th impulse wave.
I got back to the drawing board again as soon as 8250 line was broken down closed.
Let's see what's going to be unfolded
7500 USD :
1. This is the target of Y, exactly same rate of drop in W wave, 1:1
2. The is the point of 4th impulse wave as well....