Currency: BITFINEX:BTCUSD 0.45%
Hi, this chart was made for me, by me, but you are welcome to look at it.
Technical Analysis:
I like to analyze charts in different ways. Here is my interpretation of the 4 Hour BITFINEX:BTCUSD 0.45% chart using Elliot Wave Theory, Fib Retracements, and Fib Extensions.
Above we see a bearish 5 impulse wave with an extended 3rd wave. Following Elliot Wave Theory (Wave 1) and (Wave 3) had a 1:1 ratio, due to this we can "assume" Wave 5 has the potential to demonstrate a 1:1 ratio in respect to (Wave 3). Very Simple. That is it.
Also, I expect a bounce at $6000.00. $6000.00 is time tested and has proven to be a strong support.
Closing:
I like to analyze my charts utilizing classic chart pattern, indicators, and market theory. There are many ways to tell a story but what I look for is consensus in the endings.
Hi, this chart was made for me, by me, but you are welcome to look at it.
Technical Analysis:
I like to analyze charts in different ways. Here is my interpretation of the 4 Hour BITFINEX:BTCUSD 0.45% chart using Elliot Wave Theory, Fib Retracements, and Fib Extensions.
Above we see a bearish 5 impulse wave with an extended 3rd wave. Following Elliot Wave Theory (Wave 1) and (Wave 3) had a 1:1 ratio, due to this we can "assume" Wave 5 has the potential to demonstrate a 1:1 ratio in respect to (Wave 3). Very Simple. That is it.
Also, I expect a bounce at $6000.00. $6000.00 is time tested and has proven to be a strong support.
Closing:
I like to analyze my charts utilizing classic chart pattern, indicators, and market theory. There are many ways to tell a story but what I look for is consensus in the endings.