*Continuation of Part 1
BTC/USD - Daily Chart
Primary 2 (blue) Structure - Double Zig-Zag
Zig-Zag in Intermediate (W) (pink) followed by another Zig-Zag in Intermediate (X) (pink).
Intermediate (Y) (pink) - Expectations
Bearish Three-Swings sequence, within a Zig-Zag, 5-3-5.
Primary 2 (blue) / Intermediate (Y) (pink) - Termination Points
Golden Ratio (61.8%) - Fibonacci Retracements of Primary 1 (blue).
* 78.6% if sell-off extends.
Dominant Trend - Levels in Focus
61.8% FR: $7495
61.8% FR: $5550
BTC/USD - Daily Chart
Primary 2 (blue) Structure - Double Zig-Zag
Zig-Zag in Intermediate (W) (pink) followed by another Zig-Zag in Intermediate (X) (pink).
Intermediate (Y) (pink) - Expectations
Bearish Three-Swings sequence, within a Zig-Zag, 5-3-5.
Primary 2 (blue) / Intermediate (Y) (pink) - Termination Points
Golden Ratio (61.8%) - Fibonacci Retracements of Primary 1 (blue).
* 78.6% if sell-off extends.
Dominant Trend - Levels in Focus
61.8% FR: $7495
61.8% FR: $5550
Note
Primary 2 (blue) Structure - Double Zig-Zag
Zig-Zag in Intermediate (W) (pink) followed by another Zig-Zag in Intermediate (X) (pink).
Intermediate (Y) (pink) - Expectations
Bearish Three-Swings sequence, within a Zig-Zag, 5-3-5.
Primary 2 (blue) / Intermediate (Y) (pink) - Termination Points
Golden Ratio (61.8%) - Fibonacci Retracements of Primary 1 (blue).
* 78.6% if sell-off extends.
Dominant Trend - Levels in Focus
61.8% FR: $7495
61.8% FR: $5550
Note
Note
Minor C (red) is unfolding.Trade closed: target reached
Bearish Targets reached.Trade active
Long BTCUSDNote
Triple Three pattern, correction extending in its complexity.5500
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Related publications
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.