Hi,
in the past months we have seen a significant move to the upside for BTCUSD.
The recent correction found a valid support on the 50 % line of the monthly candle of may, followed by a fast run towards new yearly highs.
What are the targets?
The 1.6, 2.6 and 3.6 of the first wave (I) .
Can this wave extend until the 3.6? It surely can. If it will do it remains to be seen.
So keep an eye on the next targets and see how the price reacts from there. If these are getting confirmed as a new support (break above and retest), there is a high probability that the wave will continue its march all the way to the next level. If it on the other hand confirms this level as a resistance there will be a high likelihood that this wave will not be extended and rather search for a better line of support.
How ever it will turn out, please do not forget to check the marketenviroment first. Better use a top-down trading method as well as different timeframes.
If you do not know what that is please check out George Beaulieu on youtube.
With patience
Heish
in the past months we have seen a significant move to the upside for BTCUSD.
The recent correction found a valid support on the 50 % line of the monthly candle of may, followed by a fast run towards new yearly highs.
What are the targets?
The 1.6, 2.6 and 3.6 of the first wave (I) .
Can this wave extend until the 3.6? It surely can. If it will do it remains to be seen.
So keep an eye on the next targets and see how the price reacts from there. If these are getting confirmed as a new support (break above and retest), there is a high probability that the wave will continue its march all the way to the next level. If it on the other hand confirms this level as a resistance there will be a high likelihood that this wave will not be extended and rather search for a better line of support.
How ever it will turn out, please do not forget to check the marketenviroment first. Better use a top-down trading method as well as different timeframes.
If you do not know what that is please check out George Beaulieu on youtube.
With patience
Heish