Bitcoin - Bearish AB=CD
Traders, today we have BTC/USD on the 4h chart with a bearish AB=CD pattern.
The measurements for a valid AB=CD pattern are detailed below.
C: 0.618 - 0.786
D: 1.272 - 1.618
I'd like to break down several aspects of this chart in order to show everyone exactly what I'm looking at.
#1: Ascending channel and untested high
Price is showing signs of indecision at resistance around $6,000.
Previous ATH still untested.
#2: Potential three drives formation
#3: Similarity in price moves
Price move A to B to achieve the previous ATH at $5,000 is similar to C to D.
As always use this analysis in relation to your own.
I'll be updating this idea as it progresses, I hope you all have an excellent weekend.
The measurements for a valid AB=CD pattern are detailed below.
C: 0.618 - 0.786
D: 1.272 - 1.618
I'd like to break down several aspects of this chart in order to show everyone exactly what I'm looking at.
#1: Ascending channel and untested high
Price is showing signs of indecision at resistance around $6,000.
Previous ATH still untested.
#2: Potential three drives formation
#3: Similarity in price moves
Price move A to B to achieve the previous ATH at $5,000 is similar to C to D.
As always use this analysis in relation to your own.
I'll be updating this idea as it progresses, I hope you all have an excellent weekend.
📈 Master the Art and Science of Trading: sixfigurecapital.com
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.