BTCUSD Outlook and where to look 3 (PERFECT call?)
Updated
This is a continuation, part 2 of this series of ideas is here (click the chart):
As you can see from the current chart and my initial idea on September 2nd, we called this dip and rebound perfectly and before anyone else on TV. As stated "No reversal signals seen in the green box so it will easily test red. Going long anywhere in the red box is very safe, but if it breaks 2970 level hold off all orders". As you can see, 2972 was hit but 2970 provided heavy resistance and we have had this HUGE bounce upwards.
So enough dwelling in the past, what's next? Well, I think we will see some resistance at the 3900 level, so a brief retrace there. Beyond that, if the bull continues then we will see new ATHs and a wave 5 as shown.
Please follow if this series has helped you and feel free to comment any questions.
As you can see from the current chart and my initial idea on September 2nd, we called this dip and rebound perfectly and before anyone else on TV. As stated "No reversal signals seen in the green box so it will easily test red. Going long anywhere in the red box is very safe, but if it breaks 2970 level hold off all orders". As you can see, 2972 was hit but 2970 provided heavy resistance and we have had this HUGE bounce upwards.
So enough dwelling in the past, what's next? Well, I think we will see some resistance at the 3900 level, so a brief retrace there. Beyond that, if the bull continues then we will see new ATHs and a wave 5 as shown.
Please follow if this series has helped you and feel free to comment any questions.
Note
As I said, resistance at 3900 and back down. Stay alert for potential reversal signals, particularly when back in the red boxNote
So we saw the resistance at 3900 get met and reverse down, now we are seeing it back up. This time we will test 4300-4400 level as shown here. I believe we will see another retrace downwards - whether this is a big one back down to the hard support or a small one to continue the upwards trend we'll have to see. I think it will be a small retrace personally, but I will be on the look out for anything on the chart that signals otherwise.
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.