Dear Friends
First of all: DO NOT WORRY! This was expected. D4 predicted this many days ago.
So D4rkEnergY is here with one more update on the Bitcoin-situation. Let us this time take a deeper look into, what is really happening, and how low we can go. We are looking, at the 15m BTCUSD Chart.
We are at this very moment witnessing a brutal fight between the bulls and the bears. As you can see the bears managed to make a HS pattern with help from a Bear flag, which took us down to around 10,050 USD. Then another bear flag took form, and took us all the way down to 9,950 USD.
The bulls is trying to take control now... This will be an exiting fight to follow...! But let us first ask us self the following question.
How low can or should we go?
D4 has illustrated the different zones on the chart. This is done according to Elliot Wave- and Fibonacchi Retracement-Theory.
Here are the assumptions: So we only had a bit more than a 38,2 % Fibonacchi Retracement from Wave 1-2. That is not much. Theory suggest, that we then need a bigger retracement on Wave 3 to 4. Right now we are at 9,950 USD which give us about 44 % retracement, which is not enough. We usually want more than 50 % retracement, when we only had a 38,2 % on the first Impulse Wave.
D4 will follow up on this later!
D4rkEnergY loves you <3
Please give D4 a like and follow him, if you like his analysis! :)
First of all: DO NOT WORRY! This was expected. D4 predicted this many days ago.
So D4rkEnergY is here with one more update on the Bitcoin-situation. Let us this time take a deeper look into, what is really happening, and how low we can go. We are looking, at the 15m BTCUSD Chart.
We are at this very moment witnessing a brutal fight between the bulls and the bears. As you can see the bears managed to make a HS pattern with help from a Bear flag, which took us down to around 10,050 USD. Then another bear flag took form, and took us all the way down to 9,950 USD.
The bulls is trying to take control now... This will be an exiting fight to follow...! But let us first ask us self the following question.
How low can or should we go?
D4 has illustrated the different zones on the chart. This is done according to Elliot Wave- and Fibonacchi Retracement-Theory.
Here are the assumptions: So we only had a bit more than a 38,2 % Fibonacchi Retracement from Wave 1-2. That is not much. Theory suggest, that we then need a bigger retracement on Wave 3 to 4. Right now we are at 9,950 USD which give us about 44 % retracement, which is not enough. We usually want more than 50 % retracement, when we only had a 38,2 % on the first Impulse Wave.
D4 will follow up on this later!
D4rkEnergY loves you <3
Please give D4 a like and follow him, if you like his analysis! :)
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People ask about Elliot Wave Theory in general, and how to count. Here is a basic guide.
