This is a beautiful looking setup on the 4H, with an exact 0.618 retrace from the recent high and then a clear turn back up with volume. If we get a small retrace back to the prior support and 1H EMA200 at around 711 sats I will buy there. Looking for 100% - 125% gains by January.
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It didn't come back to my target entry point so I am still not active in this trade. However the breakdown is just happening now, so I think it can come back either to the EMA200 or back all the way to the support at 711 sats I was targeting for entry. It might take a day or three to get there. Will be looking for reversal signals and buy volume building again at these possible reversal points.
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oops wrong chart:
Komentar:
This trade is running exactly to plan, despite the big drop in BTC. Might actually make money on it against USD at this rate.
We are forming a nice 5-wave structure within the pitchfork going up. We're currently in an ascending wedge with bearish divergence, so I expect we will drop back down one more time to the most recent support - likely to the base of the pitchfork - before going up to complete the sequence. Target is still absolutely in the 1600 sat range.
We are forming a nice 5-wave structure within the pitchfork going up. We're currently in an ascending wedge with bearish divergence, so I expect we will drop back down one more time to the most recent support - likely to the base of the pitchfork - before going up to complete the sequence. Target is still absolutely in the 1600 sat range.