Monthly/Weekly Timeframe the market structure of BTC and how it has pushed up to new highs and completed ABCD Fib.
The second part I showed where we are currently after completion of D extension.
BTC is currently pulling back and looking to create a projected C point around $13000 area. This is where we are looking for continued buys to upside D extension of...
This is based off previous idea.
BIAS: Buyer momentum has slowed down and selling momentum is raising.
- Daily chart shows buyers diving & sellers raising, previous Huge Bearish Engulfing Candle & FIB C Retracement at 61.8 PRZ.
- 4HR chart ADX indicator shows sellers trending and buyers dead. EMA & SMA Crossed indicating a switch of trends....
BIG BOY: Overall Trend
Huge Uptrend for Several days. Market came up and tested and made an Engulfing Bullish Candle breaking through the Long Term trend line.
Next Day Market Made a Wicked Engulfing Bearish Candle, breaking back below the LT Trend Line.
Now: Current Market Conditions
On the 4 hour chart, the market retested and was held below 32.8 PRZ...