1 and 2 in column indicate Fibonacci Retracement of wave 1-3. We could see the length of wave 5 almost exactly 0.618 of wave 1-3 (as rule). From wave labeling, we noticed that the first wave correction has been completed. We indicate this as wave A correction of ABC pattern. We are waiting for Wave B to complete it movement, thus we has clue in potentially...
As you can see in the picture, there a few points that we want to highlight on the bitcoin current movement, consequence on my previous target hit. Bitcoin currently has gone upward after major correction of abc pattern. Now, let we see where it will goes base on the chart analysis. 1) Fibonacci retracement is still great, with 0.382 retracement - Bullish 2)...
Red Marobuzu at the end of retracement. Indicate maximum pushing / selling has been done and rebound. This rebound is possible because it occur at price that coherence with previous support / resistance line. #like #follow
Bitcoin achieved its target at $6100 from refined support/resistance line connecting point 1,2,3. How much will it rebound upward? Next target : As in the drawing Cheers.
$5400+ Clear cut horizontal support / resistance. The next two rebound are just minor prediction. Cheers.
Major movement to downward will presume. Put your safety gears on. Good luck. Good technique and knowledge is really important before you invest or put ur money in.
Trying to find out does Bitcoin has the potential to rally after so call correction that its face now. Well, at the first glance I could see that it possibly making five wave correction. But, after doing some analysis of chart drawing, its showing that its making lower high and lower low which is its in the downtrend movement. In case you does not understand...
As you can see in the chart drawing, after completed the Inverse of Head and Shoulder pattern,the oil price rallying up. For now, its still fluctuating at its previous resistance line that it make back in 2015. If the price breakout and stay above $70, it has high chance for the price to move up in a rapid movement in the future. But if its stay below $70, it...