Potential fractal playing out on BTCUSD. This aligns with my personal assessment of the approach to the A&E neckline on the 4 hour chart, as shown below:
Given the long fib over-extension to 3.618, I believe we are due for a correction, but it will be choppy and slowly drawn out. I also believe that this will grant us a chance to revisit the .618 ($3,660) of the range that we have been within since December 17th.
As always, exercise proper risk management and adjust to the situation as it develops. There are many critical points around the current range that may greatly impact projections for the coming periods.
Given the long fib over-extension to 3.618, I believe we are due for a correction, but it will be choppy and slowly drawn out. I also believe that this will grant us a chance to revisit the .618 ($3,660) of the range that we have been within since December 17th.
As always, exercise proper risk management and adjust to the situation as it develops. There are many critical points around the current range that may greatly impact projections for the coming periods.