INTERPRETATION
BINANCE:STRATBTC Possible beginning of Elliott Impulse Wave 1. If price can breakout of red bear cloud, consider entry. Upcoming green cloud provides confidence in entry.
Note: Long-term analysis will not be done. Entry into this position is for high-risk investors who plan to monitor closely for an exit position.
BUY SIGNALS
-T&K bull cross
-Price-T&K bull cross
-Price-Cloud entry
-upcoming green cloud (buy pressure)
CAUTIONS & CONFIRMATIONS
-Price-Cloud bullish breakout (strong consideration for entry into position)
-Fibonacci resistance up-cross
POSITIONS
entry @ ~10100
BINANCE:STRATBTC Possible beginning of Elliott Impulse Wave 1. If price can breakout of red bear cloud, consider entry. Upcoming green cloud provides confidence in entry.
Note: Long-term analysis will not be done. Entry into this position is for high-risk investors who plan to monitor closely for an exit position.
BUY SIGNALS
-T&K bull cross
-Price-T&K bull cross
-Price-Cloud entry
-upcoming green cloud (buy pressure)
CAUTIONS & CONFIRMATIONS
-Price-Cloud bullish breakout (strong consideration for entry into position)
-Fibonacci resistance up-cross
POSITIONS
entry @ ~10100
With more information, a better predicted extrapolation can be done. With the assumption that Wave 1 completion @ 1039, we can forecast the completion of Wave 2 using Fibonacci retracement to be at 0.5 Fib @ ~900 or 0.618 Fib @ ~870. Following Wave 2 completion, a bullish Wave 3 can be expected.