BTC/USD:
Bitcoin really looks done imo. 5 waves counted on the 4hr TF and zooming into the 15 minute and 5 minute TF we can easily count the subwaves of the Yellow 5.
breaking it up into the purple 5 waves we can see that it all checks out.
going to the 5th Purple wave we can count the 5 subwaves which is always a great indication that an impulse is done.
lastly, grabbing a fib extension from purple subwave 2-4 we can see that wave 5 has hit perfectly on the .618 Fib level.
For now I think we can see a nice retracement but nothing is guaranteed in this market and its really dangerous to short BTC imo.
Bitcoin really looks done imo. 5 waves counted on the 4hr TF and zooming into the 15 minute and 5 minute TF we can easily count the subwaves of the Yellow 5.
breaking it up into the purple 5 waves we can see that it all checks out.
going to the 5th Purple wave we can count the 5 subwaves which is always a great indication that an impulse is done.
lastly, grabbing a fib extension from purple subwave 2-4 we can see that wave 5 has hit perfectly on the .618 Fib level.
For now I think we can see a nice retracement but nothing is guaranteed in this market and its really dangerous to short BTC imo.
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Related publications
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.