Hello there,
At any given chart and time frame, you will be looking at three different price movements that agree on peak lows and highs; therefore, the only certainty in a trend is a peak high and a low from past data. Anything in between is unclear.
Right now, BTCUSD is at the 63625.51 price level, and 56456 extends on C for a lower low. The current level where we are is bullish, but what will happen next is unknown.
What seems to be holding a bullish direction is the 61642.56 area, ignoring retracements. So by that alone, the lower-low BTC has a bullish direction. If we look at how this whole view looks, it appears to be similar to a bullish Wyckoff schematic, with the current price being in Phase C and entering Phase D.
And if we say the distance of AB will be almost equal to the lower low of C to D, we may have two price targets subjectively.
If we pull a Fib Retracement from the known H and L, then the Lower Low reached the extreme level of Fib 0.236 further strengthening the lower low.
> And it is also possible that the price will pulse up to 66523.66 before retracing.
Overall, bullish interests for BTCUSD with monitoring. High-risk setup.
Happy trading,
K.
At any given chart and time frame, you will be looking at three different price movements that agree on peak lows and highs; therefore, the only certainty in a trend is a peak high and a low from past data. Anything in between is unclear.
Right now, BTCUSD is at the 63625.51 price level, and 56456 extends on C for a lower low. The current level where we are is bullish, but what will happen next is unknown.
What seems to be holding a bullish direction is the 61642.56 area, ignoring retracements. So by that alone, the lower-low BTC has a bullish direction. If we look at how this whole view looks, it appears to be similar to a bullish Wyckoff schematic, with the current price being in Phase C and entering Phase D.
And if we say the distance of AB will be almost equal to the lower low of C to D, we may have two price targets subjectively.
If we pull a Fib Retracement from the known H and L, then the Lower Low reached the extreme level of Fib 0.236 further strengthening the lower low.
> And it is also possible that the price will pulse up to 66523.66 before retracing.
Overall, bullish interests for BTCUSD with monitoring. High-risk setup.
Happy trading,
K.