On the above 5 day chart price action has corrected almost 70% since the year began. A number of reasons now suggest a reversal in trend, they include:
1. Price action and RSI resistance breakouts.
2. A significant confirmation that legacy downtrend breakout now acts as support.
3. Price action confirmation horizontal support.
4. Forecast to broken market structure is also the Golden ratio, but that is not the same as saying a correction confirmation from structure will follow.
Is it possible price action continues correcting? Sure.
Is it probable? No.
Ww
1. Price action and RSI resistance breakouts.
2. A significant confirmation that legacy downtrend breakout now acts as support.
3. Price action confirmation horizontal support.
4. Forecast to broken market structure is also the Golden ratio, but that is not the same as saying a correction confirmation from structure will follow.
Is it possible price action continues correcting? Sure.
Is it probable? No.
Ww
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BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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.