Bitcoin /USD rate (October 18th 2021)
I see the $63k price level has been achieved on Bybit. $62.9k on Coinbase (so far)
Here's an idea of how price action could look if my fib setup is good enough for this. (I can totally be wrong, can't stress this enough, have been so wrong this year its not even funny, but these are my biased beliefs.)
I think we can drop down towards my 0.618 fib level at $54.8k and then make our way back up to my 0.236 fib level for a fake-out at $59.6k before then heading even lower towards $49.9 or $46.9k as the next turnaround to see another small bull trap.
I'm trying something with my thick red trend line, I think it may use that trend but not in a linear fashion. There may be more touch points along that path and with more volatility testing equilibrium balances over and under that trend line, with those touch points most likely at fib level lines within the total range of the trend I've marked and balancing corrections touching along the actual trend line path. This is kind of just for me to take personal notes so none of what I am describing may necessarily make any sense.
Closer ST view below:
Below are the charts I deem most relevant to explain my current evolution of conclusion jumping ;)
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading
I see the $63k price level has been achieved on Bybit. $62.9k on Coinbase (so far)
Here's an idea of how price action could look if my fib setup is good enough for this. (I can totally be wrong, can't stress this enough, have been so wrong this year its not even funny, but these are my biased beliefs.)
I think we can drop down towards my 0.618 fib level at $54.8k and then make our way back up to my 0.236 fib level for a fake-out at $59.6k before then heading even lower towards $49.9 or $46.9k as the next turnaround to see another small bull trap.
I'm trying something with my thick red trend line, I think it may use that trend but not in a linear fashion. There may be more touch points along that path and with more volatility testing equilibrium balances over and under that trend line, with those touch points most likely at fib level lines within the total range of the trend I've marked and balancing corrections touching along the actual trend line path. This is kind of just for me to take personal notes so none of what I am describing may necessarily make any sense.
Closer ST view below:
Below are the charts I deem most relevant to explain my current evolution of conclusion jumping ;)
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading
