So, Im hoping that this is the position we are in now.
Completing the C leg of the correction of a wave 4. The 3rd and 4th leg of the super cycle make a perfect Elliot wave... its a thing of beauty.
The C leg has hit the 0.618 of the A leg and could go on from here but if it makes an equal measured move then around 42k we would hope to see the start of a wave...
Okay, so it looks like an ascending wedge with the potential for a break down. If the previous support at 8600ish is breached then I think the next support zone is around this rectangle. I have already filled my bags on the way down so Im just watching to see if this plays out. Have a cheeky order at around $6300 if it all goes to hell!!!
So clearly on the 1 hr chart an inverted H&S has formed. I believe this is the case with quite a few alts at the moment however I already have skin in the game here, so fingers crossed for a text book play out! Happy trading
So, BTC has formed a Inverted H&S. We have a hidden bullish divergence on the MACD. 200EMA has just been tested and found support. This could play out nicely for a 5-7% long. Plenty of overhead resistance, but I would like to see if this plays out.
It looks to me that this has come after an Elliot wave and and ABC.
Fingers crossed that maybe we have found the...
Well after a manic few days we have bounced of the 6000sats support (for now)
The 4hr chart shows an Intersting divergence on the RSI and MACD and if it plays out correctly will give us another push to the upside ... Im not trading this ( coz im still HODLing ) but, lets hope this continues yesterday strong bounce!!