BTC hourly has shown a Bull Flag signal and is currently breaking out of its ascending triangle.
Short term price remains strong to the upside.
I have two targets (1 & 2) showing the measured moves to the upside.
So hopefully this week will be a good week for BTC
Not financial advice, its my reading of the chart pattern playing out
Short term price remains strong to the upside.
I have two targets (1 & 2) showing the measured moves to the upside.
So hopefully this week will be a good week for BTC
Not financial advice, its my reading of the chart pattern playing out
Note
Looking for the bounce off the top of the ascending triangle for confirmation of the move on the hourlyNote
Its moving very nicely along the predicted channel towards its measured move.Note
on the 4 hr chart , all is looking on target for meeting the measured move.
Then followed by a move up to encounter resistance and a possible Bull flag .
Note
Definitely worth taking notes here ,
the measured move (m2) has completed finishing out a minutte leg 5 of elliot.
The (a) (b) and (c) predictions are measured legs according to the EW theory. The only thing not positioned correctly as per the theory is where the leg (b) to (c) will finish, however it is likely to meet resistance with the Fib levels on this chart.
Trade closed: target reached
Target 2 wa met , closing the chronology
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.