BTC/USDT - Watching for a reversal
Updated
Maybe we have arrived at our final destination.
The fib study;
#1 - the fib of the entire bull move.
#2- Fib of the last wave before the ATH was made.
#3- Fib of the bear move from the ATH to the swing low.
Fib #3 - Price has hit the 127% extension from the ATH and the 1st corrective wave. I have drawn this from the failed high where the capitulation of BTC began.
We are also at support on a daily chart.
I have redrawn a bear flag to contain the move in the event that price does stall here it will make sense in retrospect.
I am waiting for a HIgher high and then a higher low from this point as it's worth a shot long. See the hourly forecast.
I will watch on the hourly to take my trade.
Trade at your own risk - these are just my ideas and plans.
The fib study;
#1 - the fib of the entire bull move.
#2- Fib of the last wave before the ATH was made.
#3- Fib of the bear move from the ATH to the swing low.
Fib #3 - Price has hit the 127% extension from the ATH and the 1st corrective wave. I have drawn this from the failed high where the capitulation of BTC began.
We are also at support on a daily chart.
I have redrawn a bear flag to contain the move in the event that price does stall here it will make sense in retrospect.
I am waiting for a HIgher high and then a higher low from this point as it's worth a shot long. See the hourly forecast.
I will watch on the hourly to take my trade.
Trade at your own risk - these are just my ideas and plans.
Note
The forecast on the hourly chart was as expected. We have a Change of Trend on the 60 min chart - I will wait for a fib of the change of trend to take my trade.
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