BitcoinLong
BTCUSD Bullish ABCD Pattern
The lines 'AB' and 'CD' are known as the legs while 'BC' is called the correction or retracement.
As you can see , If you use the Fibonacci retracement tool on leg 'AB', the retracement 'BC' reaches until the Fib 0.618 level. Next, the line 'CD' is at the 1.272 Fibonacci extension of 'BC'.
As you can see , If you use the Fibonacci retracement tool on leg 'AB', the retracement 'BC' reaches until the Fib 0.618 level. Next, the line 'CD' is at the 1.272 Fibonacci extension of 'BC'.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.