Using Fibs as a metric I am able to identify pivot points in an unorthodox method. This can be used on any time frame but it is more consistent on higher time frames. First identify the local high and low on a structure (usually a slope shape or consolidation which is a string of slopes) Take the Fib Retracement tool and attach the 1 to the local top then attach the .500 fib to the local bottom. This will generally direct you to the .236 target. Once price reaches there you can wait for candle close confirmations to enter a position. Doing this reversed can predict price for bears and bulls once a price structure has been identified. You can do this on any time frame the perks of this method is to catch better price targets for whichever direction you think price will go. To clarify this is an unorthodox method but regardless we can see how a mathematical structure is heavily incorporated into price somuchso that even an unorthodox method can predict specific price pivots.
The next targets or zone of targets all lead towards 24-25k area. I expect much volatility running between 25-35k area.
The next targets or zone of targets all lead towards 24-25k area. I expect much volatility running between 25-35k area.
Nota
Here is an example of how to use it it on the 1 hour chart. Nota
And another example.Nota
Nearing the entry zone and waiting for confirmation. Nota
Similarities arise. I should also note that price hit a lesser target at 25.3k which triggered a 10% bounce. This could dictate a bottom (anything is possible.) However it is more likely for Bitcoin to hit a stronger support which is slightly lower. Imo there is no reason to fomo long until price retests support. Waiting for higher time frame candles will be the confirmation.Nota
Implied trajectory. If we can disrespect 28.4k-28.5k area we might have a more serious case for bulls. A rejection here will lead to the probable trajectory lower 24kish levelsNota
The idea is with each slope has a target and it cascades into more slopes creating more targets. Using it on the smaller time frames can be inconsistent (especially if your wave count is Elliots is off). Nota
Interesting similarities. Bitcoin on the 30 minutes inverted compared to the one-day chart. Dagangan aktif
Price touched 24870 I am laddering 3x long leveraged tokens (No stop loss) for swing trade. However, you might be able to land some higher-risk leveraged longs here. Trade at your own risk! Good luck.Nota
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._. looks like crypto winter again
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.