The Idea:
-Contrary to trending trade ideas, I believe Bitcoin is a buy.
The Reason:
-My conclusion has been reached solely upon its recent impulsive behavior, followed by a precise Fibonacci correction, which if it holds in the highlighted zone and breaks to the upside, should generally be followed by an impulsive wave to recent highs.
The Technical Correction:
-61.8% retracement of previous impulse leg
-161.8% extension of current corrective move
-100% AB = CD projection of current corrective move
-Contrary to trending trade ideas, I believe Bitcoin is a buy.
The Reason:
-My conclusion has been reached solely upon its recent impulsive behavior, followed by a precise Fibonacci correction, which if it holds in the highlighted zone and breaks to the upside, should generally be followed by an impulsive wave to recent highs.
The Technical Correction:
-61.8% retracement of previous impulse leg
-161.8% extension of current corrective move
-100% AB = CD projection of current corrective move
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