This is NOT investment advice - just my personal opinion based on BTC's latest movements. I could be totally wrong. DYOR.
On the 45 minute chart, we see a clear descending triangle, in which BTC is moving. I believe BTC will soon break out of this triangle and head towards 9000, where it will bounce. I don't expect a bounce above the bottom of the triangle, as it will become a support once it has been breached. Therefore, once BTC breaks out of the triangle, I see a slight bounce off @ 9k upwards, then a bounce back down off @ 9150 - 9200.
I see the upcoming downward move as wave 3 within major corrective wave C - big picture.
Still undecided on whether or not to try to play one of these intermediate waves. I'm relatively new to wave / fib analysis. But, my confidence is growing.
Should I give it a shot?
All comments and critiques are welcomed.
On the 45 minute chart, we see a clear descending triangle, in which BTC is moving. I believe BTC will soon break out of this triangle and head towards 9000, where it will bounce. I don't expect a bounce above the bottom of the triangle, as it will become a support once it has been breached. Therefore, once BTC breaks out of the triangle, I see a slight bounce off @ 9k upwards, then a bounce back down off @ 9150 - 9200.
I see the upcoming downward move as wave 3 within major corrective wave C - big picture.
Still undecided on whether or not to try to play one of these intermediate waves. I'm relatively new to wave / fib analysis. But, my confidence is growing.
Should I give it a shot?
All comments and critiques are welcomed.
This is NOT financial advice - it's merely my opinion. Do your own research.
Like.
Follow.
Please, comment / critique my posts.
And, unless you love losing money, ALWAYS use a stop-loss!
Happy Trading!
RP
Like.
Follow.
Please, comment / critique my posts.
And, unless you love losing money, ALWAYS use a stop-loss!
Happy Trading!
RP