Today we have BTC/USD on the 1h chart with a BAMM (Bat Action Magnet Move) setup in combination with a pattern.
The measurements for a valid are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
I understand the BAMM theory will be relatively new to most traders, this style of trading simply focuses on a breakout of the B point.
A clear break and close below support at B would indicate further declines for bitcoin heading towards $1900 where we may see a short term recovery upon completion of the .
Green area displays the profit zone.
If we do see a sell-off I will be sure to keep everyone updated.
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A strange situation indeed.
WE will see $1100
What has this chart got to do with the one above? Solid prediction though.
All the best!