BTCUSDT possible wave 3 scenario . The previous chart was invalidated thus wave 5 of wave C down was completed, this will give this scenario more probability to be correct . Wave 3 extension could extend as far as the 4.618 fib level but for this idea the wave 4 and wave 5 projections were made assuming wave 3 will reach the 2.618 minimum and can be adjusted accordingly.
The price is due for a correction and the Daily Rsi is extremely overbought .I would avoid wave 4 pullback and trade wave 5 .
Please do your own analysis before trading .
Good LUck
The price is due for a correction and the Daily Rsi is extremely overbought .I would avoid wave 4 pullback and trade wave 5 .
Please do your own analysis before trading .
Good LUck
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Min wave 3 Reached. The lower time frame should be monitored for possible indication of a pullback and if there is no indication ,then wave 3 has a high probability to extend higher. If wave 3 is extended then wave 4 and wave 5 projections should be adjusted accordingly .Good LUck
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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.