BTC (Bitcoin) - Breakdown of Rally & Next Targets

BTC 👀 – 07/28/2022 | Breakdown of Latest/Current #Impulse (Rally) 🎯 - 📸 🚨

📌 #Price must at least close below the 0.236 (or 23.6%) Fibonacci level before we can consider Wave i (in blue) complete. Until this happens, we continue to move the Fibonacci to the highest peak to remeasure.

📌 Price made an equal low (or double bottom); this #liquidity (💰 Liquidity💰) makes for a good institutional point of interest (POI) on the retracement (pullback). From a smart money standpoint, this area represents where a lot of retail traders have placed their stop losses ( #stoploss). By triggering their stop losses on the buy orders, equals increased selling pressure because in order to exit a buy, you must (of course) “sell”.

📌 The green “buy zone” makes for a great #pullback/ #correction/ #retracement (whatever you want to personally call it) target 🎯 to complete wave ii (in blue). It's located directly under the liquidity (equal lows) and directly in the #GoldenZone (50.0 - 61.8% Fibonacci Retracement levels).

📌Not always, but usually, the #GoldenZone (50-61.8% Fibonacci), represents a high probability/lower risk, entry point for taking positions on the #market.

📌 Takeaways:
A) If you’re not familiar with Fibonacci retracements and how to use them, then start learning.
B) Step out of the retail trader mindset and learn think like smart money (institutions, hedge funds, or other big players)
C) Don’t be afraid of losing; #TrailandError. You’re always going to lose, just as you’re not always going to win. You can still lose the majority of your trades/investments and still be profitable if you learn to cut losses quick and let winners run.

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⚠️ This is not investment or financial advice; Anytime you enter the #markets, you fully accept the #implications at your own risk❗️

#longterm #learning #makingmoneymoves #invest #strength #buildandgrow #breakingnews #crypto #cryptowinter #ElliottWave #FedReserve #StrongDollar #FOMC


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