BTC: Bulls Hesitant on Follow Through [MicroAnalysis]
BTC Microanalysis: "Forest for the trees but the trees still make the forest."
After a good consolidation and pump, bulls are giving up the momentum a little too early by failing the 5th-wave breakout on smaller time frames, taking all 5 wave attempts just to reach the 141 extension. Normal follow through after a consolidation/pump will typically reach the 161 by the 5th wave at minimum, many times by the 3rd wave.
As long as BTC holds above 9k, the Adam & Eve scenario is still looking good, but this does point to some sideways action and raises the potential risk of downside for the time being.
After a good consolidation and pump, bulls are giving up the momentum a little too early by failing the 5th-wave breakout on smaller time frames, taking all 5 wave attempts just to reach the 141 extension. Normal follow through after a consolidation/pump will typically reach the 161 by the 5th wave at minimum, many times by the 3rd wave.
As long as BTC holds above 9k, the Adam & Eve scenario is still looking good, but this does point to some sideways action and raises the potential risk of downside for the time being.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.