1). Typically, Motive Waves go 100% of Wave 1, which is established using Fib.tool levels. 2). The Chart likely needs a pullback correction towards $100K for a long position entry. 3). The US$ appears to have a little steam remaining, which supports the deeper ABC Bitcoin correction lower. 4). Always consider where the price is during the Motive sequence, as in this case, it needs to complete a Wave 5, since the bottom of Wave 4 can be an excellent Buy entry! 5). Also, drop charting down to lower time frames for more detail. 6). And of course, the MACD supports my analysis! "Cheers & Good Luck, always!"
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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.