https://www.tradingview.com/x/mL1ar1xP/
🎙️ Hi, Guys!
💭 The chart shows a completed 5-wave impulse, indicating the end of a short-term uptrend.
🗯️ I'm waiting for BTC to hit the 0.382 Fibonacci retracement level around $63,000. Below the 0.382 level, strong support areas are at the 0.5 and 0.618 Fibonacci retracement levels, which is approximately $60,000 and $58,500.
💡I am looking for buying opportunities in the $63,000 to $58,500 range with a view to further expansion to the top.
Shaka 🤙
BTCUSDT BTCUSDT BTCUSDT BTCUSDT
🎙️ Hi, Guys!
💭 The chart shows a completed 5-wave impulse, indicating the end of a short-term uptrend.
🗯️ I'm waiting for BTC to hit the 0.382 Fibonacci retracement level around $63,000. Below the 0.382 level, strong support areas are at the 0.5 and 0.618 Fibonacci retracement levels, which is approximately $60,000 and $58,500.
💡I am looking for buying opportunities in the $63,000 to $58,500 range with a view to further expansion to the top.
Shaka 🤙
BTCUSDT BTCUSDT BTCUSDT BTCUSDT Note
A correction is brewing in the designated areas. If ma-20w is broken, the downward movement may accelerate. The shooting star candle appeared on a volume above average, which confirms the chart vector for a local downside.
Note
💭Yesterday's update worked
💡At the moment we have received one simple downside zigzag. The correction could end here in theory, however, this is not the base scenario for me.
⌛️I prefer to wait for confirmation and allow the development of a double or even triple zigzag, because second waves are often sharp and correct the previous impulse by 62 percent.
One of the last four-hour candles represents a wide spread on increased volume, which from a price action point of view confirms the chart’s intention to continue its downside movement.
Additionally, we should consider the stock market environment where we are seeing blood 🧸
Who knows, maybe the conference in Nashville will make its own adjustments 🤔
Note
🚀 I am convinced that Bitcoin will soon reach a new all-time high (ATH), but the path of the samurai may not be easy 🥷
💡Looking at the recent chart, it is clear that the price jump from July 25 to July 27 was an impulse. This brings us to two possible scenarios:
1 - Continuation of the Uptrend - BTC could continue its upward momentum directly from the current levels.
2- Flat Correction (eFL or rFL) - BTC might be forming a corrective wave "b".
In any case, BTC is on its way to reaching new ATH levels. The only question is whether this will happen from the current price or through a more serious correction to 0.618 Fibonacci.
Shaka 🤙
Trade closed: target reached
I am closing the current idea, since the target of around 70 k has been achieved. A further update in the markup will be in a new idea.Shaka 🤙
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Disclaimer
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🥷🏼 My Telegram
🇺🇸 t.me/shakatrade1_618
🇷🇺 t.me/shakatrade_ru
🍓 The best crypto exchange — Bingix! Click my referral link to activate your bonus! bingx.com/invite/D9E1B1/
🇺🇸 t.me/shakatrade1_618
🇷🇺 t.me/shakatrade_ru
🍓 The best crypto exchange — Bingix! Click my referral link to activate your bonus! bingx.com/invite/D9E1B1/
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.