Bitcoin EW update
If I try to label to it Via green count ,price has dropped from high of 102433 and retraced almost to from the point wave 2, 50% retracement in price from high creates doubts, as it doesn’t happen often in impulsive moves.
If I try to label is according other way, wave 3 end near 123% and wave 5 doesn’t even cross 61.8% which is mandatory in case of non extended wave 3, than this case entire pattern will be corrective, and correction means fall below 91266 low.
If it is corrective and converts into that pattern than we will be looking to short on confirmation of candle pattern and other strategies at level 1- 99690 and next level 100741.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
If I try to label is according other way, wave 3 end near 123% and wave 5 doesn’t even cross 61.8% which is mandatory in case of non extended wave 3, than this case entire pattern will be corrective, and correction means fall below 91266 low.
If it is corrective and converts into that pattern than we will be looking to short on confirmation of candle pattern and other strategies at level 1- 99690 and next level 100741.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
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