Hello, followers and other TradingView users!
Technically, here we get probably the delayed short-term bounce for day traders!
Bounce criteria:
1. April low works as a support - $6425
2. Trendline from the wicks since 15.09.2017 (three touches, today was fourth)
3. Fibonacci retracement area, not the perfect one but between the 62%-78% (Pulled 24.06.2018-29.07.2018)
4. Fibonacci extension level 161% (Pulled 20.07 - 25-07)
5. On the 4h chart - RSI Divergence & RSI is on the 'trendline'
6. Current price action shows us on the shorter timeframes nice harmonic corrections between the Fibo levels.
7. We have completed the 5th wave on the Elliott Wave theory
8. ABC pullback gives us same length 'legs'. On the Elliott Wave, those are 3rd and 5th waves
Hopefully, this helps You out a little bit to confirm Your own analysis! DEFINITELY make Your own research and if You don't understand some of my points or I miss calculate something then please leave a comment!
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