Is Bitcoin forming a possible dragon on 4H chart..
It has formed it's first leg and hump, now forming the second leg..
There are two entry points indicated on the chart, safe entry is at entry2.
Leg 1 range is $28421.154 which it will start from Leg 2 once confirmed.. From there I would expect 62%-78% of the leg 1 as target 1 (short profit), 100% as target 2 and a possible 130% as target 3.. stop loss be the bottom of leg 1... $31202.3377
What are your thoughts
I am not a financial advisor, these are just my observations and possibilities
It has formed it's first leg and hump, now forming the second leg..
There are two entry points indicated on the chart, safe entry is at entry2.
Leg 1 range is $28421.154 which it will start from Leg 2 once confirmed.. From there I would expect 62%-78% of the leg 1 as target 1 (short profit), 100% as target 2 and a possible 130% as target 3.. stop loss be the bottom of leg 1... $31202.3377
What are your thoughts
I am not a financial advisor, these are just my observations and possibilities
Comment:
I am pretty sure bitcoin will form leg2 around $30 000 as it has a gap there on the 1m chart and from there it should start running up
Comment:
well bitcoin formed the 2nd leg nicely and following up lets see how high it will go