BTC (Y20.P6.E1).Price Action explained and now what?
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Hi All,
Price has hit the goldern ration, 1.618 and hence a strong selloff.
However we don't have confirmation and since the trend is with the bulls, what are we waiting on?
With my indicators, I'm looking for the following:
a) Bearish divergence with the WT indicator on the daily;
b) Bearish divergences on the 4 hrly and possibly the 1 hrly;
c) Looking for the green rsi to hit 50% and the grey below 50% on the daily;
All these will give us a strong signal that this is wave 3 of the macro elliot wave and the start of wave 4 which can be complex or straight forward with an ABC wave.
Just to demonstrate what we are potentially looking at. Ignore wave 5 as its a place holder.
At this point, the 1.618 makes a good case, and we saw basically 4 impulses to get there. So it is looking like that this is the top however as stated, we are not done yet as we need those 3 conditions.
All the best,
S.SAri
Bearish Divergences this year on the macro level
Price has hit the goldern ration, 1.618 and hence a strong selloff.
However we don't have confirmation and since the trend is with the bulls, what are we waiting on?
With my indicators, I'm looking for the following:
a) Bearish divergence with the WT indicator on the daily;
b) Bearish divergences on the 4 hrly and possibly the 1 hrly;
c) Looking for the green rsi to hit 50% and the grey below 50% on the daily;
All these will give us a strong signal that this is wave 3 of the macro elliot wave and the start of wave 4 which can be complex or straight forward with an ABC wave.
Just to demonstrate what we are potentially looking at. Ignore wave 5 as its a place holder.
At this point, the 1.618 makes a good case, and we saw basically 4 impulses to get there. So it is looking like that this is the top however as stated, we are not done yet as we need those 3 conditions.
All the best,
S.SAri
Bearish Divergences this year on the macro level
Nota
I see a new high coming this coming week but before that, possibly low 22k.Nota
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sometimes we get caught up in the moment. Lets look what's happening on the bigger time scale, 6 months and yearly...No doubt, we are going to the moon.>LOL.
Nota
Nota
so farNota
Note how the edge of the fan became the pivot point to push the price up rather than down...this is significant.
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This community has signals now but with no risk management comms.
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