Hey, What's up Guys!
Looking at the previous downtrend (pink Parallel channel) and the ''bullish''' trend (Blue parallel channel) that took place right away, we had a good Idea of where BTC was heading after it hit The Major Bearish trend (Yellow Parallel Channel).
Using the Fibonacci extension tool, we know that we have couple scenario possible! This one crossed the 1 (green box) for a very short time with a deep RSI.
Looking at the 2 White Boxes, we could see a Divergence (red LINE). This Tells us that We have a HIGHT potential for a reversal pattern. In those cases You need to figure OUT the next Parallel Channel angle by starting with the beginning of the Divergence (if it makes sense to start from their right!! ) (in the first case it did, but in the second case it didn't)
Next step is to define when & Where will BTCUSD Drop to its next Level!
Hope you Guys enjoyed my TA!
When Investing, Make sure You've used your Risk/reward Tool before entering a trade & have followed YOUR Risk Management Tool that confirms the success of your TA
If you have any question Please comment and I'm possitive that me or someone will answer !
Knowledge is the KEY to SUCCESS
Love you all!
Looking at the previous downtrend (pink Parallel channel) and the ''bullish''' trend (Blue parallel channel) that took place right away, we had a good Idea of where BTC was heading after it hit The Major Bearish trend (Yellow Parallel Channel).
Using the Fibonacci extension tool, we know that we have couple scenario possible! This one crossed the 1 (green box) for a very short time with a deep RSI.
Looking at the 2 White Boxes, we could see a Divergence (red LINE). This Tells us that We have a HIGHT potential for a reversal pattern. In those cases You need to figure OUT the next Parallel Channel angle by starting with the beginning of the Divergence (if it makes sense to start from their right!! ) (in the first case it did, but in the second case it didn't)
Next step is to define when & Where will BTCUSD Drop to its next Level!
Hope you Guys enjoyed my TA!
When Investing, Make sure You've used your Risk/reward Tool before entering a trade & have followed YOUR Risk Management Tool that confirms the success of your TA
If you have any question Please comment and I'm possitive that me or someone will answer !
Knowledge is the KEY to SUCCESS
Love you all!
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Looks GOOD to me !
