BTC Sell to 56K Breakdown
I breakdown the Sell Analysis I called towards 56K before the move actually happened. Watch to see exactly how I was able to capitalize off this move.
- A 5 count wave reversal pattern was printed which proceed with heavy bearish momentum down towards 56,800. Printing the April Monthly low. Price has shown some support since then, but price is showing me an effort to revisit that low.
-The first thing I noticed the bearish reaction to price from the 13extension level from the Fibonacci sequence drawn. Price showed heaved rejection around 59k then made the most recent attempt to close above. It succeeded to open and close above but was then immediately rejected back down by the Bearish selling power.
- I have identified a Elliot Wave correction that has validated sequences 1-4, I am waiting on a slight pullback to confirm the Supplied high printing a Lower High. I also have another Fib lined up with the wave sequence and I am planning on entering on the break of the 50% zone around 54,800.
My style of trading uses Market Structure, Price Action, Fibonacci, Wave Sequences, Moving Averages, and a mixture of Multi Time Frame Confluence. Most importantly the visual realization of emotions cycled into the chart.
As always THANK YOU and if you found this video helpful, please let me know by hitting that like button and/or leaving me a comment below.
Also, feel free to share your opinion on this setup or other setups that you have. The more ideas we can generate together, the more informative these ideas become for newer traders. STAY PATIENT & STAY BLESSED!
~T$
- A 5 count wave reversal pattern was printed which proceed with heavy bearish momentum down towards 56,800. Printing the April Monthly low. Price has shown some support since then, but price is showing me an effort to revisit that low.
-The first thing I noticed the bearish reaction to price from the 13extension level from the Fibonacci sequence drawn. Price showed heaved rejection around 59k then made the most recent attempt to close above. It succeeded to open and close above but was then immediately rejected back down by the Bearish selling power.
- I have identified a Elliot Wave correction that has validated sequences 1-4, I am waiting on a slight pullback to confirm the Supplied high printing a Lower High. I also have another Fib lined up with the wave sequence and I am planning on entering on the break of the 50% zone around 54,800.
My style of trading uses Market Structure, Price Action, Fibonacci, Wave Sequences, Moving Averages, and a mixture of Multi Time Frame Confluence. Most importantly the visual realization of emotions cycled into the chart.
As always THANK YOU and if you found this video helpful, please let me know by hitting that like button and/or leaving me a comment below.
Also, feel free to share your opinion on this setup or other setups that you have. The more ideas we can generate together, the more informative these ideas become for newer traders. STAY PATIENT & STAY BLESSED!
~T$
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