BitcoinUpdated BTC next move - Diamond top, Fibs, Descending wedge,Elliott wave
Getting ready for Diamond top breakdown in Wave 4 of 3. Descending Wedge to start Wave 5 of 3. Red box at top = Resistance.
IF Diamond Top Breaks to downside:
Diamond Target 1 = Not Accurate yet as we have to Apply this ON the breakout but still charting it at the moment as an example.
Diamond Target 2 = Probably won't get hit if this formation continues as it is too low down the descending wedge .
IF Diamond Top breaks Upper trendline B, will have to redraw the Upper resistance trendline . Invalidated if BTC hits above 6840 before breaking down.
IF Diamond Top Breaks to downside:
Diamond Target 1 = Not Accurate yet as we have to Apply this ON the breakout but still charting it at the moment as an example.
Diamond Target 2 = Probably won't get hit if this formation continues as it is too low down the descending wedge .
IF Diamond Top breaks Upper trendline B, will have to redraw the Upper resistance trendline . Invalidated if BTC hits above 6840 before breaking down.
Note
Idea updated here ^^^
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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.