BTC
1. is currently on the descending channel on small timeframe 4H.
making bullish flag
2. previous wave bull is 30 bars, bear 29 bars
last bull is 36 bars, current bear is 23 bars, im expecting not too far different to 36 bars.
3. from previous high, it got rejected at fibo 1.236
im looking for long opportunity if it's breakout descending channel,
target will depend on how deep the correction.
if the lowest is 0.786 my target is fibo 2.0
0.618 - target is 1.618
if it reach 0.382 i may or may not enter a position.
i'm not going to catch a falling knife and always wait for confirmation.
happy trading
Fortis Fortuna Adiuvat
ps
1: this is not a financial advice.
2: go easy on me :D
1. is currently on the descending channel on small timeframe 4H.
making bullish flag
2. previous wave bull is 30 bars, bear 29 bars
last bull is 36 bars, current bear is 23 bars, im expecting not too far different to 36 bars.
3. from previous high, it got rejected at fibo 1.236
im looking for long opportunity if it's breakout descending channel,
target will depend on how deep the correction.
if the lowest is 0.786 my target is fibo 2.0
0.618 - target is 1.618
if it reach 0.382 i may or may not enter a position.
i'm not going to catch a falling knife and always wait for confirmation.
happy trading
Fortis Fortuna Adiuvat
ps
1: this is not a financial advice.
2: go easy on me :D