BTC - Reciprocal AB=CD
Updated
BTC is creating Reciprocal AB=CD pattern
What we have :
AB to C - fib 1.414
What we need :
BC to D - 0.707
Once we cross red line ( price move has to be confirmed ) BTC should go to point D without problems.
Point D is a reversal point so expect back to uptrend channel.
If BTC move up and exceed point C pattern become invalid.
This information is not a recommendation to buy or sell.
All trolls are welcome to post hateful comments as this helps me to bring my TA to wider audience.
What we have :
AB to C - fib 1.414
What we need :
BC to D - 0.707
Once we cross red line ( price move has to be confirmed ) BTC should go to point D without problems.
Point D is a reversal point so expect back to uptrend channel.
If BTC move up and exceed point C pattern become invalid.
This information is not a recommendation to buy or sell.
All trolls are welcome to post hateful comments as this helps me to bring my TA to wider audience.
Note
0.618 reached few hours ago Note
Just to say that uptrend is very strong and we might not reach 0.707 Coinbase already showing massive divergence on 1H and AB=CD presented here was almost touching 1.61 fib at the top and in that case we would need 0.61 to make it complete. 0.61 was reached. I tray to be as accurate as possible and that is the reason why I qualified 1.41 instead of 1.61 as top. From now on I expect trend reversal back to main uptrendNote
Just to say that target after completing AB=CD should be 9700. That should be our first stop. From there we will see what chart is presenting. For now if we go up we go to 9700. And one more thing - amount of people following my TA is 830. I'm doing my best to be as accurate as possible to make trading a pleasure. Amount of likes for this TA is 35. This is something like 4% of my followers rewarding me with LIKE. Likes for me mean more than money here, so please show Your commitment and nest time hit that bloody LIKE button if You find my TA helpful. That way my TA will be available to bigger audience. Thank You in advance.
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