Currently we are either breaking out downward(weekly) or correcting back up into structure(via daily). The weekly candle close will determine is we have broken out of the current structure downward; however, BTC is currently correcting back into the structure as the weekly close approaches.
Weekly indicators:
IF weekly downward breakout holds until close.
Pink: Most plausible in my opinion.
Burnt Orange: Second most plausible according to indicators.
Daily Indicators:
IF weekly closes inside the structure.
White: Looking at the daily this seems to be a fairly likely outcome.
I apologize that my work is messy! Any feedback is appreciated and I hope this helps someone!!
Note: Arrows are not drawn to scale with respect to time, just a general guess of the path it will take price wise.
Weekly indicators:
IF weekly downward breakout holds until close.
Pink: Most plausible in my opinion.
Burnt Orange: Second most plausible according to indicators.
Daily Indicators:
IF weekly closes inside the structure.
White: Looking at the daily this seems to be a fairly likely outcome.
I apologize that my work is messy! Any feedback is appreciated and I hope this helps someone!!
Note: Arrows are not drawn to scale with respect to time, just a general guess of the path it will take price wise.
Note
Seems to be following the expected path. (Pink)
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.