BTC A-B waves of ABC corrective larger Primary Fractal Wave 2
BTC Does what it is supposed to do... As I wrote previously we were due and would do an ABC corrective leg in a classic A to the 100 DMA (Orange) within ATR Range of $3K to $4K daily then a B leg retrace back up to the 50DMA Yellow $56.9 now merged with the 20DMA Blue at $56.9K for a $57K Mid Red Channel Psychological level 1K Target prior to the classic longer C leg retrace to the the 200DMA which interestingly has moved up a full Fibonacci Level from .618 at $31K to the .5 Fibonacci Retrace level at $37K with a similar angle to the A Leg to reach the target in the Middle of May roughly May 15th.
As previously mentioned the first Major 5 Wave Shown in light Green and now this Major ABC retrace are fractal in nature and represent the Wave 1 and Wave 2 of a much larger Primary Degree Fractal Wave. This is where it gets very exciting as the turn from a retracing large wave 2 into the even larger longer and impulsing wave 3 (Typically 1.618 to 2.618 times the large Green Wave 1 through 5 now Primary Wave 1) is where some truly strong profit generation will occur both for the CME Futures traders and the smart Fractal Wave aware BTC swing cycle Hodlers... who will sell at the top of B and buy back in at the bottom of C and then Hodl like their financial futures depend upon it... Fibonacci was a Genius and Maths do not lie.
Remember BTC is the Tide that raises and lowers th ALTs - HTH...
As previously mentioned the first Major 5 Wave Shown in light Green and now this Major ABC retrace are fractal in nature and represent the Wave 1 and Wave 2 of a much larger Primary Degree Fractal Wave. This is where it gets very exciting as the turn from a retracing large wave 2 into the even larger longer and impulsing wave 3 (Typically 1.618 to 2.618 times the large Green Wave 1 through 5 now Primary Wave 1) is where some truly strong profit generation will occur both for the CME Futures traders and the smart Fractal Wave aware BTC swing cycle Hodlers... who will sell at the top of B and buy back in at the bottom of C and then Hodl like their financial futures depend upon it... Fibonacci was a Genius and Maths do not lie.
Remember BTC is the Tide that raises and lowers th ALTs - HTH...