Bitcoin is tightening up on the 4HR timeframe, as long as we bounce from the support trendline we'll continue to see big % moves across the altcoin market.
Playing several altcoins currently including $LINK, $WAVES, $YFII & $ETH.
There's currently 4 days & 8 hours of this range remaining, will be wise to revert completely into $BTC awaiting a decision with stop...
WAVESUSDT retraced as expected from my previous analysis.
Price retested the flip horizontal support + 0.618 fibonacci retracement.
Price brokeout above the pullback descending trendline resistance.
We could see an uptrend continuation.
Targets 🎯 - previous swing high ( ATH ), fibonacci extension levels.
Setup invalidation ❌ - breakdown below the previous swing...
I believe we are on the 4th wave (retracement) at the moment. it has already formed an ABCDE and an ABC so if the rule holds true it will do another ABCDE.
WAVESUSDT is printing a rising wedge pattern on the daily timeframe.
RSI is printing a bearish divergence signal.
Sell entry ⬇️ - breakdown below the rising wedge support
Target 🎯 - Support levels
Setup invalidation ❌ - breakout above the rising wedge resistance
You know what to do.
I would only say it's valid when the top of the line is broken.
Then enter around zone at for best entries and good RR.
It's RISKIER than my previous fractal because the structure is premature.
I made it as elementary as possible. Hope this works out and I'll be updating it when things change/go according to plan.
CRYPTOCURRENCIES ARE BREAKING OUT, They can't wait Bitcoin, The big brother is too daunting.
Symbols: AAVE, LTC, VET, SUSHI, BEL, WAVES
I appreciate your like or comment. Welcome to share your idea here.
DISCLAIMER
This is only a personal opinion and does NOT serve as investing NOR trading advice.
Please make your own decisions and be responsible for your own...
This is the idea of my GBPUSD Short/sell - 40 pips
In my analysis, It will fall for bit to grab (40 pips) before it will bounce back up but it might fall more further that depend on the marketing but am expecting bullish sometime soon.
Just sharing my reading/direction of the market managing a trade is completely upto you and you should compare with your onw strategy. Daily macd is yet to flip + when it does ill be even more bullish.
Following the last chart this is a weekly perspective of the ideal pull back to / around $0.20 one last time before a fifth elliot wave.
We have 2 weekly trendlines in place and a major support level used in the prior bull run in dec 2017.
The support gives some validity to the bullish trendline where we had 3 weekly candles form at the end of june which is also...
A pullback towards $0.19 - $0.18 would line up perfectly for a 4th wave following the basic elliot wave theory.
The 4th wave would align with the major monthly support around the black zone.
A fibonacci from wave 2 to wave 3 is ideal as this is from the last higher low to the most recent higher high. The 61.8 & 78.6 retracements align perfectly with the support...
Simple pattern recognition with 3 similar flats. This is how I imagine it will play out.
Higher TF is still a downtrend. Make sense to think BTCUSD is setting up for one more drop.
![BTCPERP: BTC - Pattern [LONG] x2 -Read Description for Important info-](https://s3.tradingview.com/9/99RtoXdJ_mid.png "BTC - Pattern [LONG] x2 -Read Description for Important info-")
