One Scenario for Bitcoin.
Using the pins bar tool and some very intense analysis of the market history. I've come up with a possible scenario to play out.
Targeting the 60k area for the market to reverse. I must say I have never in all my trading accurately predicted a top in the market so the probability of this playing out is very slim.
Try as I might this is a great way to document analysis and look over what works and whats failed.
For myself, i took profits at 26K expecting a markup phase to begin which never happened TUT TUT !! .
I made x 5 profit.
I'm in need of a bearish cycle to begin. I shall weigh weeks months or years if needs be the cycles when finished has not failed to retrace 76.4% .
cycle [1] $31 -$1.93
cycle [2] $268 -$47
cycle [4] $1092 -$162
cycle [6] $19,860 -$3190
cycle [7] $13,800-$3800.
Targeting the 60k area for the market to reverse. I must say I have never in all my trading accurately predicted a top in the market so the probability of this playing out is very slim.
Try as I might this is a great way to document analysis and look over what works and whats failed.
For myself, i took profits at 26K expecting a markup phase to begin which never happened TUT TUT !! .
I made x 5 profit.
I'm in need of a bearish cycle to begin. I shall weigh weeks months or years if needs be the cycles when finished has not failed to retrace 76.4% .
cycle [1] $31 -$1.93
cycle [2] $268 -$47
cycle [4] $1092 -$162
cycle [6] $19,860 -$3190
cycle [7] $13,800-$3800.
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