We are fast approaching the 4.236 fib circle boundary that I constructed after the second to the last swing channel, and this has been a great set of circles ever since I have posted them. I think we are going to see a major pivot when we hit this boundary. Where will it go from there? Possibly to the up side, but more probable to the down side, in my opinion. I am watching for a drop to the bottom of the parallel trading channel I have indicated on this chart. We could gravitate towards the crossing of the bottom trading channel and the 4.618 blue fib line that is coming up next, after we cross the current line. We could also drop to the BIG red 4.236 fib circle boundary, at the juncture with the blue 4.618 line.
I believe we are in a falling wedge formation. Many are saying that we will experience the next run at the completion of this formation. This is highly possible, based on what we have seen in the past. Please check out my video on the YouTube channel below where I go more in depth on this, and show a simplified TradingView blue line chart with my analysis drawn on. Your comments are welcomed!
VIDEO:
BTC Pivot Point & Falling Wedge Formation
I believe we are in a falling wedge formation. Many are saying that we will experience the next run at the completion of this formation. This is highly possible, based on what we have seen in the past. Please check out my video on the YouTube channel below where I go more in depth on this, and show a simplified TradingView blue line chart with my analysis drawn on. Your comments are welcomed!
VIDEO:
BTC Pivot Point & Falling Wedge Formation