ENGBTC Bear scenario
Considering the daily time frame showing possible bullish divergence.
If we're following Elliott wave theory it seems a long WXY correction is not yet over. As it must respect Fibonacci ratios which are most the golden ratio of 61.8.
The bull scenario here if it will break out from the trend line resistance. It's still possible since bullish divergence is already present.
If we're following Elliott wave theory it seems a long WXY correction is not yet over. As it must respect Fibonacci ratios which are most the golden ratio of 61.8.
The bull scenario here if it will break out from the trend line resistance. It's still possible since bullish divergence is already present.
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