Current BTC corrective structure is very similar to what we have seen with XRP in August-September.
In both cases,we see a 7 wave corrective structure and major fall happens right after rejection from 0.702 retracement rally and then forming a base on the 5th wave within wave 5 and a small push up taking it near wave 4 of 5th wave in wave 6 before the capitulative bottom in wave 7.
Then after the wave 7 the price hovers up in the region and comes down near the previous low set in wave 7 for the last time without breaching the low of wave 7 before reversal.
The structural looks very similar and may play out.
#btc
#2021bullrun
#NFA
In both cases,we see a 7 wave corrective structure and major fall happens right after rejection from 0.702 retracement rally and then forming a base on the 5th wave within wave 5 and a small push up taking it near wave 4 of 5th wave in wave 6 before the capitulative bottom in wave 7.
Then after the wave 7 the price hovers up in the region and comes down near the previous low set in wave 7 for the last time without breaching the low of wave 7 before reversal.
The structural looks very similar and may play out.
#btc
#2021bullrun
#NFA
Not
Happy Monday everyone !!!Its been a good ride up
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Next major targets : 47.5k and 54k where btc may face resistanceİşlem aktif
Recovery going as expected !İşlem aktif
For a bullish recovery wave 5 of this recovery structure should be above wave B of the ABC correction
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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.
İlgili yayınlar
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.