COINBASE:BTCUSD recently broke the downtrend and is going to test the extreme. This is where the reversal could start and take us into the next phase of the bull market, euphoria. Advice to all will be to stay away from the news, at least for trade purposes and keep an eye on the chart. We could simply continue the downtrend and capitulate in the mid or low 20s.
Peace.
Happy new year everyone! May your folio pump to the moon this year :D
So I have been reading some books on price action and came across this setup, called Spike and Channel The setup begins with a spike in price and then goes into a channel. Often, when the trendline is broken, it is followed by the test of the extreme, and then finally the start of the channel...
Hi all,
Was going through the SPY chart. Since it has broken a major trendline, the probability of a correction is significant now. Although the price seems to be moving back up, it can be setting up a stage for a correction to the support zone. The current rally can be seen as an ABC correction which can start a deeper pullback if the market fails to break...
Hi all, my first post here.
I did an Elliot wave count on bitcoin since the end of the 2018 bear market, where the next bull run actually began. Looks like we are still in the corrective 4th wave of the long-term bull phase. And the recent drop could have started the c wave correction of the final phase of the 4th wave. What do you guys think? To support the...
