This is a 3-day chart of BTC.
There is an ABCD pattern and concentration in a possible PRZ.
Contrary to popular belief, there is no one 'ABCD' pattern but a series of them. When you see one where AB=CD then there is a potential for reversal. ABCDs do not have to be 100% accurate.
The important issue is price action in the potential PRZ.
The current picture is not a prediction because I CANNOT possibly know what the future holds.
If you are 'getting ready' it's for two things:
1 - a movement north
2 - a movement south.
With all trading it is about taking an affordable loss. The 'big money' will be looking at the PRZ too. Small traders need to be extremely careful.
BTC is not a great investment due to its particular wildness.
Stay safe.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which has a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
There is an ABCD pattern and concentration in a possible PRZ.
Contrary to popular belief, there is no one 'ABCD' pattern but a series of them. When you see one where AB=CD then there is a potential for reversal. ABCDs do not have to be 100% accurate.
The important issue is price action in the potential PRZ.
The current picture is not a prediction because I CANNOT possibly know what the future holds.
If you are 'getting ready' it's for two things:
1 - a movement north
2 - a movement south.
With all trading it is about taking an affordable loss. The 'big money' will be looking at the PRZ too. Small traders need to be extremely careful.
BTC is not a great investment due to its particular wildness.
Stay safe.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which has a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
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