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RE: Bitcoin Downside Price Targets
Good to see more traders coming onto Steemit. I've followed along.
Each horizontal line to full target of $1805 is a confirmation the draw is correct.
What are the lines and why does it say they're correct? I don't get it.
I study Hunt Volatility Theory (themarketsniper.com) What you see on the chart is an inverted HVF pattern. The strongest impulse from bottom to top in the HVF setup creates the downside target. Likewise a regular HVF pattern would be an upside jump. We only trade continuation patterns. This pattern does not need to reach full target and it may not but on balance of probabilities it will more time than it doesn't. I have no idea if it will make target but the horizontal lines are confirmation along the way the pattern is good and will make target.
Thanks for the explanation and the link. I'll check it out.