Crash for bitcoin - a New one ?
Hi,
Bitcoin completed a bearish AB=CD Pattern at $5850 (D = 1.272ext AB)
Expecting a retracement to $3840 area for a likely 121 Bullish Pattern with confluence of the mid-term Trendline (0.707 retracement of CD leg)
If $5850 breaks, next target should be around $7000 (1.618 extension of AB and larger classical AB=CD)
Bitcoin completed a bearish AB=CD Pattern at $5850 (D = 1.272ext AB)
Expecting a retracement to $3840 area for a likely 121 Bullish Pattern with confluence of the mid-term Trendline (0.707 retracement of CD leg)
If $5850 breaks, next target should be around $7000 (1.618 extension of AB and larger classical AB=CD)
Note
New setup here :
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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.