I spotted some similarities in BTC wave pattern which seems to perfect with one of my previous BTC post. Before I continue with my update do check out the post am referring to, at least this will guide the idea clearly.
Oh yes, thank so much for the massive supports I received from my last post, those Likes means so much to me. Thank you
This update is focusing mainly on wave count, mind you my count may not go with the book, mostly textbook traders usually end up failing during real live trading test. So all the counts and applications of waves are based on my own personal findings.
Spotted BTC to be moving in potential WXY pattern with some solid push and this is all about HALVING, everyone is Fomo in right now.
The idea shows expected retracement level and potential target expectation. We may assume retracement to be over only if PRICE closes above 9510$ on 4hours to daily timeframe . If NOT the basic retracement view is totally possible with target towards 8000$-8250$.
Our oscillating indicator is also shown to be in serious overbought condition, and this need cooling to give more room for the big event coming.
Everything we need to make trading decision is well shown on the chart.
All attention shifted to this present 4hours candle if closes as Bearish engulfing will change a lot of game. patience game here right now.
The consolidation continues as price been held firm in range.
its happening gradually
The breakdown is confirmed.
So far trade is moving as expected.