Book you need to read to use this great indicator: " Trading Chaos: Applying Expert Techniques to Maximize Your Profits " by Bill Williams S: Squat Fk: Fake Fd: Fade G:Green
IF BTC false to break up 10K300 and create a lower high, then go down then break the descending triangle at 9k200, target will be the width at point 2 projected from the breakout, around 7K200, which is also 61.8% retracement level of this crazy BTC rally . (60%) IF BTC break up first 10k300 then 11k100, then it is very BULLISH... (40%)
IF BTC false to break up 10K300 and create a lower high, then go down then break the descending triangle at 9k200, target will be the width at point 2 projected from the breakout. (60%) IF BTC break up first 10k300 then 11k100, then it is very BULLISH... (40%)
If BTC break 9k9 again BTC might follow ABC correction, if not ABCDE correction is likely!
The wave ii of C correction wave ended sooner than I thought. I believe we are in wave iii of the wave C. - SAR turned bearish - TD candle 5 and broke the 4h TD trend set-up, more space to go lower - Downside momentum is still increasing All indicators are Bearish to me.
It is my short term view. It can be wrong or changed because the market is chaotic.
It may go up a bit before DOWN
2h - Heavy resistance - Volume decrease - StochRSI overbought - Bearish rising wedge ==> 70% SHORT