HI GUYS ALL MY ANALYSIS IS TO IMPROVE MY TRADING SKILLS AND THE NEED FOR THE MOST ACCURATE PREDICTIONS BASED ON THE MOST RELEVANT INFORMATION WE ARE GETTING FROM THE MARKET AT THE CURRENT MOMENT.
IT WILL BE HIGHLY APPRECIATED IF SOME COMMENTS OR LIKES CAN BE GIVEN IF ANY OF THE INFO PRESENTED HERE HAS HELPED YOU ON YOUR TRADING JOURNEY
AND HAVE IN SOME WAY SAVED YOU FROM ENTERING ON A BAD TRADE
As mentioned in previous analysis we are seeing a wave pattern on the 1h time frame clearly and the daily.
Each pattern are in different phases.
The 1h time frame pattern has been completed.
It moved into the correctional phase.
The first idea was a normal ABC
Re evaluating this pattern we are look at a complex correction
The direction of the wedge pattern might be a indication of the which way it will break out.
THE 1h wave also confirms the completion of the 3rd wave on the daily and the complex correction on completion will confirm if we will see more downswing in btc
A completion at the top of current box rang that is forming will confirm this correction.
Like I have mentioned a few times in previous analysis we are still In a predominantly bearish market on lower time frames
The weekly and monthly is Also hinting to strong bearish sentiment
With bearish ingulfing patterns on weekly and monthly and a evening star formation on monthly time frame
Usauly a close on this in the higher time frames is a very good indication for lower times that we will see more bearish or bullish but in this case wel are looking at more bearish downswing
Indicators on lower time frames don't confirm this yet
Reason indicators are as we know lagging indicators so candles will give you the turn in advance before the indicators
The only thing that can change this out come is bulkish news.
OVER ALL MY STANCE HAS NOT CHANGED INTERMS OF DIRECTION I STILL SAY BEARISH ALL INFO POINT TO THIS BUT WE MUST BE PATIENT AND SEE WHERE IT ALL LEADS TO THE CURRENT CORRECTIONAL PATTERN WILL BE THE DIRRENCE BETWEEN BULLISH AND BEARISH CONTINUATION
IT WILL BE HIGHLY APPRECIATED IF SOME COMMENTS OR LIKES CAN BE GIVEN IF ANY OF THE INFO PRESENTED HERE HAS HELPED YOU ON YOUR TRADING JOURNEY
AND HAVE IN SOME WAY SAVED YOU FROM ENTERING ON A BAD TRADE
As mentioned in previous analysis we are seeing a wave pattern on the 1h time frame clearly and the daily.
Each pattern are in different phases.
The 1h time frame pattern has been completed.
It moved into the correctional phase.
The first idea was a normal ABC
Re evaluating this pattern we are look at a complex correction
The direction of the wedge pattern might be a indication of the which way it will break out.
THE 1h wave also confirms the completion of the 3rd wave on the daily and the complex correction on completion will confirm if we will see more downswing in btc
A completion at the top of current box rang that is forming will confirm this correction.
Like I have mentioned a few times in previous analysis we are still In a predominantly bearish market on lower time frames
The weekly and monthly is Also hinting to strong bearish sentiment
With bearish ingulfing patterns on weekly and monthly and a evening star formation on monthly time frame
Usauly a close on this in the higher time frames is a very good indication for lower times that we will see more bearish or bullish but in this case wel are looking at more bearish downswing
Indicators on lower time frames don't confirm this yet
Reason indicators are as we know lagging indicators so candles will give you the turn in advance before the indicators
The only thing that can change this out come is bulkish news.
OVER ALL MY STANCE HAS NOT CHANGED INTERMS OF DIRECTION I STILL SAY BEARISH ALL INFO POINT TO THIS BUT WE MUST BE PATIENT AND SEE WHERE IT ALL LEADS TO THE CURRENT CORRECTIONAL PATTERN WILL BE THE DIRRENCE BETWEEN BULLISH AND BEARISH CONTINUATION
