BTC Roadmap - Potential PA for Wave-3 of 3 of Grand-5
(BTC - 4-Hour TF)
Many great levels have been achieved with Bitcoin over the past weeks. The most anticipated being that major top/down 0.886 at 60.6K. Now as we look towards the local top/down 1.886 at 64.9K, we must keep great caution as this is the double top resistance area.
Optimistically, we have taken the local top/down 1.272 and 1.618 at 61.3K which could represent our local wave-1 of 3 of 3 of grand-5. This would come with our current consolidation as a possible wave-2 of 3 of 3 of grand-5. This is where the cautionary correction zone come in at the local top/down 1-fib at 52.9K. We could see a much shallower retrace [IF] we are ready to retrace. Personally, I believe we seek the 1.886 at least before a retrace but I'm prepared and caution to be ready now just in case.
Looking forward, taking the 1.886 would activate the 3.618 at 88.3K but for maximum potential taking the 2.618 at 74.8K would activate the 4.236 at 96.6K which is more realistic for the wave 3 of 3. Following these euphoric levels would come a likely retrace to the 1.618 at 61.3K for wave-4 of 3 of grand-5. A 30+% correction back to the current BU/LPS.
These are all potentials based on current data. Trade safe. Use a SL. Have a plan before you take the trade. Get the bag!
Let's go!
(For educational and observational purposes only. Not financial advice. Invalidation is always possible especially in crypto.)
Many great levels have been achieved with Bitcoin over the past weeks. The most anticipated being that major top/down 0.886 at 60.6K. Now as we look towards the local top/down 1.886 at 64.9K, we must keep great caution as this is the double top resistance area.
Optimistically, we have taken the local top/down 1.272 and 1.618 at 61.3K which could represent our local wave-1 of 3 of 3 of grand-5. This would come with our current consolidation as a possible wave-2 of 3 of 3 of grand-5. This is where the cautionary correction zone come in at the local top/down 1-fib at 52.9K. We could see a much shallower retrace [IF] we are ready to retrace. Personally, I believe we seek the 1.886 at least before a retrace but I'm prepared and caution to be ready now just in case.
Looking forward, taking the 1.886 would activate the 3.618 at 88.3K but for maximum potential taking the 2.618 at 74.8K would activate the 4.236 at 96.6K which is more realistic for the wave 3 of 3. Following these euphoric levels would come a likely retrace to the 1.618 at 61.3K for wave-4 of 3 of grand-5. A 30+% correction back to the current BU/LPS.
These are all potentials based on current data. Trade safe. Use a SL. Have a plan before you take the trade. Get the bag!
Let's go!
(For educational and observational purposes only. Not financial advice. Invalidation is always possible especially in crypto.)
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