BTCUSD remains a STRONG BUY!Analysis Method: Fibonacci & Wave Theory
1 Hour Chart Shows a Primary Wave Sequence with an ABC correction.
Note that the Primary Wave didn't retrace to the 'normal' .618 level.
See related idea for further analysis.
Will update.
-AB
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Note we have been in a correction for approx. 15 Hours.Note
Wave Theory: Another important clue that you can keep in mind is this, Compute the time and distance traveled by both the waves 2 and 4 of the lower degree. Then, your zigzag correction will be bigger in size and take longer time than the bigger of waves 2 and 4. For example, suppose wave 2 traveled 50 pips and took 3 hours, whereas wave 4 traveled 25 pips and took 5 hours. In this case, your zigzag correction will take more than 5 hours and will travel more than 50 pips.Note
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1 Hour ChartNote
Fib Time Marker AddedNote
We should see a strong breakout in the next 2 hours and 45 minutes...Note
Little longer than anticipated but still looking to break out...Note
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Bitcoin is the single biggest threat to the Fiat “Status Quo”. What did every Big Bank CEO call Bitcoin?
Worthless. Scam. Fake.
Why?
Prediction: In the very near future, you will not need a bank.
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9481.57 is the Key Level for the 3rd Wave ExtensionNote
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The Extending Wave 1 FailedNote
New Analysis Posted Tomorrow....Note
Trade closed: target reached
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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.