Morning guys,
Although BTC has dropped a bit after our last discussion, it has not broken previous lows but returned back to 3/8 Fib resistance and keeps chances to show deep upside retracement that we've expected
to see initially. Still, this retracement happens by different pattern - not H&S that we've discussed, but possible "222" Sell.
Now price stands tight under Fib resistance, forming pennant pattern, which suggests buidling of an energy before breakout.
Thus, right now we expect AB=CD upside action to 3940-3980 major 5/8 Fib level and forming "222" Sell. After that we start watching for bearish entry.
Although BTC has dropped a bit after our last discussion, it has not broken previous lows but returned back to 3/8 Fib resistance and keeps chances to show deep upside retracement that we've expected
to see initially. Still, this retracement happens by different pattern - not H&S that we've discussed, but possible "222" Sell.
Now price stands tight under Fib resistance, forming pennant pattern, which suggests buidling of an energy before breakout.
Thus, right now we expect AB=CD upside action to 3940-3980 major 5/8 Fib level and forming "222" Sell. After that we start watching for bearish entry.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.