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current Bitcoin correction wave is near to end
Atualizado
Hi Bitcoin-lovers,
In summary, I do think this corrective wave is near to end! as few hours later I announced it!
The reason for this is as follows:
1- As it is shown by green arrow lines (one in price chart and another in RSI) a divergence is formed
2- As it is shown by purple color descending line, price break the line, also a nice pullback is formed which is really classic
3- Fibo 0.38 level (red line) is touched and it is about to bounce from this level
4- A descending triangle harmonic pattern (orange shape) is about to forming which can acts as a reversal evidence
On the other hand, WMA is acting as a dynamic resistance, if the momentum in the market goes up and break this resistance level, we can hope the higher prices can be achievable. One more thing, for filtering of a fake long position, let the price break the latest highs which is noted by blue line
Good luck
In summary, I do think this corrective wave is near to end! as few hours later I announced it!
The reason for this is as follows:
1- As it is shown by green arrow lines (one in price chart and another in RSI) a divergence is formed
2- As it is shown by purple color descending line, price break the line, also a nice pullback is formed which is really classic
3- Fibo 0.38 level (red line) is touched and it is about to bounce from this level
4- A descending triangle harmonic pattern (orange shape) is about to forming which can acts as a reversal evidence
On the other hand, WMA is acting as a dynamic resistance, if the momentum in the market goes up and break this resistance level, we can hope the higher prices can be achievable. One more thing, for filtering of a fake long position, let the price break the latest highs which is noted by blue line
Good luck
Trade ativo
OK, It just happened. Now we have to set profit targets and find resistance levels.Trade fechado: objetivo atingido
one nice thing in trading is that the market response is really dynamic, you see fist I thought the major reversal pattern is descending channel but it turned into a reversal triangle!!!
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