In this analysis, I take a look at the chart as mirror. In this perspective, the yellow vertical line is considered as a mirror on the chart to identify time cycles on BTC chart.
Horizontal dash lines confirm this point of view and the blue vertical lines is my target.
The chart is self descriptive. Entry and target points are mentioned. Enter only when the stock price follows the designated path and finds support at the price marked as entry point.
Trade at your own risk.
Do let me know your views.
W1 : A potential mirror effect triggered by an ongoing Bearish Engulfing pattern (to be confirmed in W1 closing !) is in progress.
The 23.6 % Fib ret @ 45491 of the 3850-58354 rally has already been filled.
In addition, there is also a RSI bearish divergence in progress which is not been confirmed yet.
Next important support level to watch is...
