NastyBeer

BTC extending correction?

NastyBeer Cập nhật   
KUCOIN:BTCUSDT   Bitcoin / Tether
Assuming the white count for wave 1 is correct, we might now be in wave 2 (blue) of 3 (white).

This wave 2 (blue) is expected to either end on 0.382 or below 0.5, most likely 0.618-0.704, after a B leg up.

A drop below 0.886 @ 20.6k would be bearish and result in 1.272 @ 17.2k to be tested

Bags loaded!

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Bình luận:
got the bounce, lets see if it can continue above local 0.382 towards 0.618-0.886

Bình luận:
ok that was quick. lets see where it wants to go next

Bình luận:
what a nice wick (flat 2?) down right on 0.886.

Assuming as long as that holds, trend remains up or even full force from here

Bình luận:
we done here?

Bình luận:
gotta love fibs huh? lets see if bulls can continue

Bình luận:
if it looks like a flag it usually is one.... capped at 0.704 fib too really needs to go soon as a zigzag1 with strong 3 next, or its gonna be much lowa

Bình luận:
Although we broke down from the flag as anticipated, looking at fib levels and the kind of structure that a strong move might be just ahead, a bullish one. a new local low however would be bearish confirmation for next leg lower I think. well soon find out what BTC wants to do

Bình luận:
Bình luận:
lower local low lead to lower prices

27.2 is MOB

Bình luận:
since 0.886 / 27.2 was MOB

BTC now has arrived at first turning point 1.272, if that doesnt hold, 1.618 next

should not go as deep as 1.886
Bình luận:
Bình luận:
since local 0.886 has been violate, local 1.272 logical next target, ideally in the 1.618spot of AB

Bình luận:
well opposite 0.886 been triggered at 27.4 for continuation and it yet looks the recent lows been of corrective pattern with this new local high. lets see if downtrend gets surpassed, then a new trend could start

Giao dịch đang hoạt động:
in the zone! possible ending of corrective pattern here. shouldnt be much deeper than recent low, than its time to blast

Bình luận:
well well well, lets see how the retrace holds, thats gonna tell if correction is over
Bình luận:
once it takes out the recent high, expect correction to be over and continuation towards 1.618 or 8.236 extension


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