Hello traders,
Let's take a look at the current market structure for Bitcoin (BTC/USD).
Following a strong bearish impulse wave, the market has entered a corrective phase, which is currently unfolding as an ABC Flat Correction structure.
Technical Breakdown:
The Correction: We have clearly established Wave A and Wave B. Currently, Wave C is pushing upwards.
Fibonacci Resistance: In a standard flat structure, Wave C is bound by specific Fibonacci extension limits. As highlighted on the chart, the current price action is testing the absolute ceiling of this Fibonacci limitation zone.
The Setup: Given that we are exactly at this critical resistance area, we can anticipate the conclusion of this bullish corrective wave.
Expectation:
This technical setup suggests a high-probability reversal zone. We can expect the initiation of the next major bearish leg from this current area. This provides a great short opportunity with a very tight and logical stop-loss placed just above the resistance ceiling.
Trade safely and manage your risk! What are your thoughts on this structure?
Let's take a look at the current market structure for Bitcoin (BTC/USD).
Following a strong bearish impulse wave, the market has entered a corrective phase, which is currently unfolding as an ABC Flat Correction structure.
Technical Breakdown:
The Correction: We have clearly established Wave A and Wave B. Currently, Wave C is pushing upwards.
Fibonacci Resistance: In a standard flat structure, Wave C is bound by specific Fibonacci extension limits. As highlighted on the chart, the current price action is testing the absolute ceiling of this Fibonacci limitation zone.
The Setup: Given that we are exactly at this critical resistance area, we can anticipate the conclusion of this bullish corrective wave.
Expectation:
This technical setup suggests a high-probability reversal zone. We can expect the initiation of the next major bearish leg from this current area. This provides a great short opportunity with a very tight and logical stop-loss placed just above the resistance ceiling.
Trade safely and manage your risk! What are your thoughts on this structure?
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.