Thesis: Using Elliot wave theory from our 1-5 correction with a trend-based fib from 1-2 we've retraced back down to our 1.618 level. That level is also shown in the past looking at our green box to be a clear area of support. Using a trend line from Jun 2021 if we look at recent price action it lines up with the idea of this being a local bottom. I personally...
Based on BTC's chart and some key resistance on some fibs I think on Christmas we'll see some bears take some profits. Trends been sideways for a couple of days now. Imo we'll see a small dip executing this trade for a full profit. (Scale out) Then the trend reversal will continue the long awaited Q1 will take way.
Open: 0.09294657
Close: 0.08575438
Stop: 0.9659581
My thesis is that we're seeing hidden divergence on the 4 HR & D charts. On the MACD we're seeing some convergence. If we don't see any volume I could see a retest at the 0.05 Fib line 5c #VRA . Furthermore if we see BTC move up today we'll see a 7c #VRA (Price target) 0.68 (strong resistance)
