Basic EW count : A retest of Fibonacci 0.618 ?
Only a quick update of my precedent chart.
I think every informations are in the chart. If bulls can't maintain BTC above 10k we will probably retest our precedent Fibonacci support with possible extended wave. The green zone is a buyback opportunity, i expect a rise to a minimum of13000$ area after this where traders will probably take some huge profit.
You can see on the 4H MACD both positive and negative divergence (lower highs and higher lows) which shows that the correction could soon be over if the triangle is not breakdown), 4H RSI shows the possibility of the continuation of lower highs but doesn't confirm the bullish divergence of MACD.
MACD is ready to cross and the volume of the wave 5 is exponential.
As always i'm not a financial advisor, i do chart for my personal entertainment and trading. Do your own research, good luck everyone !
I think every informations are in the chart. If bulls can't maintain BTC above 10k we will probably retest our precedent Fibonacci support with possible extended wave. The green zone is a buyback opportunity, i expect a rise to a minimum of13000$ area after this where traders will probably take some huge profit.
You can see on the 4H MACD both positive and negative divergence (lower highs and higher lows) which shows that the correction could soon be over if the triangle is not breakdown), 4H RSI shows the possibility of the continuation of lower highs but doesn't confirm the bullish divergence of MACD.
MACD is ready to cross and the volume of the wave 5 is exponential.
As always i'm not a financial advisor, i do chart for my personal entertainment and trading. Do your own research, good luck everyone !
Trade geschlossen: Ziel wurde erreicht:
I miss the high (extended wave 5) but well the target is finally exactly reached as i was expecting. If you have sold or short at 10k and buy back at 7300 you have made a nice profit. Gratz !
