Correction completed on Bitcoin?

in bitcoin •  6 years ago  (edited)


After we drew a perfect impulse structure up (all is on chart above) btcusd went down for the correction and tested 61.8% Fibonacci retracement drowing btw ABC structure. I think it's a good buy opportunity for us for two reasons: first of all stop could be placed very close so the loss would be insignificant and as I said above corrective structure is probably completed so we're in wave two now, the third wave could be bigger than the 1st wave and above it so the nearest take profits would be not less than higher than 4300 level (first impulse was ~ 1000$ move) so RRratio is amazing. I'll update this idea in few days if it will work. Aim 4300 first.

This is not a recommendation, but a vision of mine.

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