Greeting everybody,
We continue to work with short-term retracement action on BTC. As our downside target has been perfectly hit yesterday - 4H AB-CD pattern and butterfly "Buy' on 1H, we've got perfect "222" Buy, which could lead to fargoing
consequences. First is, at least 30% upside action, but potentially we could get DRPO "Buy" pattern on daily chart and 50% upside action of the whole thrust down...
Meantime, on hourly chart price stands at Agreement support of major 5/8 Fib level and AB=CD pattern. Market shows good uspide reaction here, thus, reverse H&S pattern could be formed.
Nearest upside target by this pattern is 4000-4100, but as we've said - this could become just a beginning of longer-term upside retracement.
We continue to work with short-term retracement action on BTC. As our downside target has been perfectly hit yesterday - 4H AB-CD pattern and butterfly "Buy' on 1H, we've got perfect "222" Buy, which could lead to fargoing
consequences. First is, at least 30% upside action, but potentially we could get DRPO "Buy" pattern on daily chart and 50% upside action of the whole thrust down...
Meantime, on hourly chart price stands at Agreement support of major 5/8 Fib level and AB=CD pattern. Market shows good uspide reaction here, thus, reverse H&S pattern could be formed.
Nearest upside target by this pattern is 4000-4100, but as we've said - this could become just a beginning of longer-term upside retracement.
ForexPeaceArmy BTC analytics :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/