BTCUSDT ShortAnd last idea is large Crab pattern. In this case D point or PRZ (potential reversal zone) will go above yellow level (and this drop can't be 123 and seeking for 4) because will in that case go in zone of 2 wave. But can be from elliott wave prospective be ABC for W down and this correction making X of WXY. And that can be very bearish case where we looking Y wave down go very deep. One of reason I don't prefer this idea but just to have in back of your mind.
REMEMBER all this charts is education only based on harmonic patterns , Elliot waves and Fibonacci.
Bctusdlong
BTCUSD LONG Fibonacci extensions for intraday trading $BTCUSDThese are the Fibonacci retracements I am watching for BTCUSD today :
N1: 34164
N2: 33192
Current intraday trend likely DOWN
DON'T FORGET TO SET STOP LOSS IN CASE OF NO REVERSAL FOR A LONG TIME
Examples of SL and TP :
SL could be @ Fibo level 5.618 (32054)
TP could be @ Fibo level 0 (36000)
Again these are just EXAMPLES ; these are the simpliest way to implement SL and TP in this system ; otherwise one could easily improve these by using partial profit taking, SL to breakeven after a certain amount of profit and other money management tactics... Same goes with the SL