I have adjusted the fib with targets, play safe as per your pocket and use brain cells too. -
Always remember that double top on larger time frame is alarming.
Take your time before closing the trade, do not rush.
BTC moving within channel and bouncing perfectly on FIB.
MA50 close to MA100 on 4HR
MA50 crossed MA100 on 1HR and 2HR
Market is very much in favour to keep the industry up and grow, investors investing in technology everyday. More and more money is pouring into this Technology.
Its time to buy.
This is my perspective on a daily chart, the start of wave 3, more impulsive than before.
At the moment crowd is not on board, slowly we will pierce the 10k, hit the headlines again, more news more crowd...than crowd will try to jump into the wagon. When it starts getting more fuel for the final thrust, you leave before the engine blows up.
Have fun and enjoy the weekend.
Hi, I have recounted the waves with known guidelines and it seems like we are on Expanded Flat correction which is already completed and now the new wave (wave 3 in a bigger picture) has been started.
If you guys notice any mistake than please do correct me.
This BTC corrective pullback from 9550 approx is very much ZigZag corrective wave
so whats ZigZag ?
- Subdivision of A and C is 5 waves, impulse or diagonal
-B can be of any corrective nature
Fib ratio relationship:
B = 50, 61.8, 76.4 or 85.4 % of wave A
C = 61.8, 100 or 123.6% of wave A
So if we look into these...
BTC getting ready for one more leg to complete the 4th wave.
length of 4th wave almost equal to length of wave 2.
When Wave 2 is diagonal than wave 4 is sharp down or visa a versa.
So lets see if theory and indicators are proving it or BTC will give a surprise.
In my opinion BTC has no brain, its human who feed the data to bots. Fib is math, Elliot is human...
It seems like BTC is getting ready for another run, classic retrievals, pitch perfect FIBs....
The more i read Fibonacci and Elliott, the more i enjoy BTC charts...
Thanks for some great guys here on this Tradingview site.
Lets see if the current setup is text book or BTC will throw a surprise but my understanding is all the investors and traders manage bot and...