BitcoinUpdated Be aware: 2nd intense downmove may be about to start!
In case 1st move down was an A, B nicely retraced to 61.8% and probably already ended.
Minimum condition for 2nd move down (wave C) is C = 0.618 x A.
This means next target is at least about 1st downmoves low (0.618xA) and may even extent to 1xA, 1.236xA or even 1.618xA!
Minimum condition for 2nd move down (wave C) is C = 0.618 x A.
This means next target is at least about 1st downmoves low (0.618xA) and may even extent to 1xA, 1.236xA or even 1.618xA!
Note
Note
Possible C wave in BTC/USD reached 1.236 Retracement of previous A wave and bounced with high volume. Patterns since are not clear enough to me, to be sure, this was the low. Reaching 1.618 @ about 4xxx is still possible, in case BTC/USD trades below 6000.Note
Correction: 1.628 @ about 2500!Note
Note
Addes some lines. Right now BTC/USD is at a crucial level!
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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.