Description chart short-term setup:
- Zigzag (5-3-5)
- RSI Bullish divergence 4h
- RSI breakout trendline
- Low probability 5th submicro wave (rule of alternation, fib 1.23)
- Target boxes laid out in chart. If part of larger correction price can take us to $3,81 - $4,54
Trade entered at $3.04
- Zigzag (5-3-5)
- RSI Bullish divergence 4h
- RSI breakout trendline
- Low probability 5th submicro wave (rule of alternation, fib 1.23)
- Target boxes laid out in chart. If part of larger correction price can take us to $3,81 - $4,54
Trade entered at $3.04
Комментарий:
Setup depends on bitcoin's price action, keeping a close eye on the formation of a possible wave 4
Комментарий:
Bitcoin's price action broke the 0.618. Possibilities for bullish continuation just increased. Reassessing new wave count.
Комментарий:
Wave 5 on the verge of completion. RSI bullish divergence still present.
Комментарий:
Wave 5 touched the 1.618 and seems complete. Waiting for confirmation to add to my current position.
Комментарий:
Possible leading diagonal for a wave 1 (15min)
Комментарий:
Beginning to see some local weakness in the chart. Monitoring for a possible bearish divergence & trend break in RSI.
Комментарий:
0.618fib touch invalidates a larger wave 4. Increases probabilities for a bullish continuation on larger time frame. On the 1h chart, trendline RSI already broke. Assessing wave count.
Комментарий:
Bitcoin currently looks bearish. Broke the 0.618fib. Not expecting anymore higher highs.