here's today's update of what I'm expecting to start this week.
I think this is the beginning of a bigger move to the downside towards 18k-22k.
The current move down is doing it's final swings before we get a retrace (that shouldn't break the previous high.)
Most retail traders would treat this as a bullflag, but since we have it in a wave 4, we know the next leg ain't gonna be so big.
Targets will be defined when we make the last high of the triangle (wave 3) but we can expect something between the 100% and 123% fib extension.
We measure it by anchoring a trend-based fib extension at 01E.
After the bigger drop I think we're gonna have a major move to the upside with a minimum target of 30k.
But we'll talk about it as we get more candles to work with.
Stay safe and enjoy the ride!
I think this is the beginning of a bigger move to the downside towards 18k-22k.
The current move down is doing it's final swings before we get a retrace (that shouldn't break the previous high.)
Most retail traders would treat this as a bullflag, but since we have it in a wave 4, we know the next leg ain't gonna be so big.
Targets will be defined when we make the last high of the triangle (wave 3) but we can expect something between the 100% and 123% fib extension.
We measure it by anchoring a trend-based fib extension at 01E.
After the bigger drop I think we're gonna have a major move to the upside with a minimum target of 30k.
But we'll talk about it as we get more candles to work with.
Stay safe and enjoy the ride!