BTCUSD Retrace before moving higher

I don't trade this, but I thought it looked interesting. Price on its way to finishing up its 5th wave. Drove up to the 61.8% FIB, and dropped immediately on the touch. We should see a move down to the 38.2% to complete the mini 4th wave.

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Price rejected heavily off of the level..

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Reversal pattern with pin bar as the signal. Great time to add to the long to hold for long term.

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next few weeks will be good for BTCUSD as DXY begins its down trek

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price dipped below this horizontal ray to retrace to the major level, then slowly crept back up. higher lows formed, and then we saw price starting to respect the level once again. I would look to buy either at the horizontal trendline or prior to the break to capture as many pips as possible. Not waiting for a break and retest because I'm biased for this to be bullish, so getting in before the move.

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getting there

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watch for the break of the 38.2% FIB level to make the next move higher.

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Unbelievable.

lawlee9

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lawlee9