Bitcoin has been consolidating sideways for the last few weeks after taking the highs at 108k and moving back down to the lower portion of the value range.
I am looking for a potential ABC corrective structure here after a rejection at the 0.618 from the recent bounce, leading me to believe we may see the 1-1 extension of this corrective move down towards the mid 80k range, in particular around 87k.
We are moving downward here with some stronger momentum as the downtrend has provided significant resistance to price, and support levels such as the weekly at approx 94k failed to provide a strong zone of support.
I will be looking for a large potential liquidity grab over the coming days for a potential long trade back to the highs.
Only time will tell!
I am looking for a potential ABC corrective structure here after a rejection at the 0.618 from the recent bounce, leading me to believe we may see the 1-1 extension of this corrective move down towards the mid 80k range, in particular around 87k.
We are moving downward here with some stronger momentum as the downtrend has provided significant resistance to price, and support levels such as the weekly at approx 94k failed to provide a strong zone of support.
I will be looking for a large potential liquidity grab over the coming days for a potential long trade back to the highs.
Only time will tell!
Note
Looking for a bit lower to the 1-1 extension around 86k for new long trades!Note
Into the POC, potential short trade back to the lows hereNote
Blasted through the POC and now changing the overall market structure. New compound zone at the anchored vwap and 100k zone. Trade active
Adding some flavour Note
Note
Potential top of the market based on elliot wave coming up between 120k -140k for the final 5th wave!Note
Another potential whoopsie coming up Note
Interested in the short trade here after a large SFP of the previous pivot to set a lower highNote
Looks like there was no real confirmation or chance at the short just yet. We may be forming an EW triangle with a failed breakout at the moment due to a lack of volume. I would not be surprised if this is simply a continuation higher Note
Ended up playing out
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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.