After doing an ending diagonal, it broke upside and started to consolidate there.
Typical scenario for another leg up. Watch out for the next impulse.
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I've been following BTC for a while, and this is how I've seen it, hopefully it takes the way up for the rest of the year;
It could be doing a triple combo or something correction, WXYXZ to test the lows. Or it could be going upward.
What will happen when it goes around 618? it could cross wave 1's end, which invalidates 12345.
Let's see what happens.
There is no divergence yet, between RSI MACD and Price movement. So there could be one more drop.
After that, it reaches the strong fib retracement level where we can expect a turn around making a new impulse
just like the initial one, from that level up to the -0.27 fib.
It matches, let's see how it goes.
As you can see the graphic, we can check divergence between the last 2 bottoms and RSI/MACD both indicators.
Also, it appears to be forming a possible ending diagonal.
Also it's right on the 786 fib level, that's a strong retracement level.
And also, getting close to that trendline below.
Let's see how it goes.
Take a look at the chart, it's closing to 618, shaping a wedge and already bouncing 4 times.
It may drop once more and rebounce up to the next fibo levels.
This is a correction from the big impulse it had before.
RSI, MACD confirms divergence from the last 2 bottoms.
Let's see what it does.
It's possibly going to rebounce in the mayor trend,
RSI shows divergence, and the patten of the channel is involved.
ADX is close to cross, there's more chance to change direction.
It has touched multiple times that upward trendline.
There's a high change it rebounces up making a similar pattern.
at 4H, it's getting closer to that uptrend line and the strong fibo retracement level of 0.786
There's a chance it rebounces between those fibo levels, if you see that MACD and RSI and confirming the divergence.
There's also apparently an Ending Diagonal forming confirming a possible reversal.
If wave analysis is correct, there's a chance of this movement to...
After doing a big impulse down, it's making a correction wave B after touching 0.618.
That may lead to make it bounce at the next step, 0.786 at wave C.
MACD and RSI are dropping, forming a divergence with price movement.
Alligator are about to cross.
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Let's see how well their teachings are.
It broke uptrend pattern, and it's consolidating after RSI touched 30 lvl (Indicates a consolidation or reversal trend)
EMA 12 and 26 crossed, indicates change in trend.
It may correct to the next step in fibo, and then go down.
After a big impulse it's making a big correction. AB is done.
Now it looks like it's making the C, there's a decline in MACD.
After touching top RSI, and trendline.
It broke last sub uptrend with strong bear force. Now it's consolidating without touching low RSI.
Alligator, if you look closely. Red is over Green. They just crossed.
Check the retracement level, expect a brake in that zone, consolidate and rebounce.
Check if MACD confirms with higher lows showing a divergence.
RSI is already touching twice >30, that confirms a consolidation or reversal
Apart from MACD, RSI not showing any divergence... this formation looks like a Cup and Handle
And according to Investopedia, it does exists (no idea about the handle,
but it still looks like a correction been done in the mid-lever of the cup
Never seen this pattern before, so let's see if it succeeds.
I've been following BTC, as you may already seen in my ideas.
This was expected long ago, there was divergence and other indicators BTC was soon to go up.
Hopefully you get in time for the rally.
Right now it's correcting right after the downtrend line, which is an indicator of still going up.
MACD and RSI looking good for continuation anytime soon. MA 200 is...
Ok I've been following this structure for days, and i think it's finally come to the end of the correction.
After a big boost from 5.5k to 20k, it has come down to 0.618, touching 6K and then 6.5K... Higher Lows.
MACD is in divergence, it's going the other way soon, not enough sellers anymore.
and RSI is touching the 30 level already.
Check the levels, the...
I won't describe what's being done here, Just check for patterns and see it for yourself.
Stare at the graph, and ask yourself.. what keeps repeating itself? Patterns.
Anyways, BTC is soon going to act. Keep an eye on it.
Fibonacci is like watching mysterious movies. Not entirely random but definitely incredible.
If you trace it like this, we just touched the 0.618 deep recovery range and bounced up. MACD is no longer indicating it's going down.
And it's coming to the end of this big triangle. Is Ellito is right, ABC huge correction is completed and soon another rally will...