BTC in a possible WW pattern.
Market eyes line 1-4.
Technicals of WW:
1 - Points 1-2 should be FARTHER apart than points 3-4
2 - Point4 should exist WITHIN the range of Points 1 and 2
3 - The lines defined by these points should be referred to as Line 2-4 and Line 1-3
4 - Line 2-4 and Line 1-3 should CONVERGE always
5 - IF Lines 2-4 and 1-3 converge DOWNWARD (as in this case), expect a significant rally to occur ONCE price reaches point-5 (RARE), or Point-5' (MOST COMMON) - This would constitute a BULLISH WW
6 - IF Lines 2-4 and 1-3 converge UPWARD (opposite to this case), expect a significant rally to occur ONCE price reaches point-5 (RARE), or Point-5' (MOST COMMON) - This would constitute a BEARISH WW
7 - A NEW line should be defined, connecting Point-1 and Point-4.
a) Points 1-2 are connected by a zig-zag ( a simple a-b-c pattern in this case) and points 3-4 are connected by a flat 3-3-5
INDICATORS confirmation:
4hr MACD bullish divergence
WW Model eyes line 1-4.
Market eyes line 1-4.
Technicals of WW:
1 - Points 1-2 should be FARTHER apart than points 3-4
2 - Point4 should exist WITHIN the range of Points 1 and 2
3 - The lines defined by these points should be referred to as Line 2-4 and Line 1-3
4 - Line 2-4 and Line 1-3 should CONVERGE always
5 - IF Lines 2-4 and 1-3 converge DOWNWARD (as in this case), expect a significant rally to occur ONCE price reaches point-5 (RARE), or Point-5' (MOST COMMON) - This would constitute a BULLISH WW
6 - IF Lines 2-4 and 1-3 converge UPWARD (opposite to this case), expect a significant rally to occur ONCE price reaches point-5 (RARE), or Point-5' (MOST COMMON) - This would constitute a BEARISH WW
7 - A NEW line should be defined, connecting Point-1 and Point-4.
a) Points 1-2 are connected by a zig-zag ( a simple a-b-c pattern in this case) and points 3-4 are connected by a flat 3-3-5
INDICATORS confirmation:
4hr MACD bullish divergence
WW Model eyes line 1-4.
Nota
sitting on daily MA100 support. Nota
1st target 14k. here i provide two forecasts.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.