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RE: BTC Bitcoin Feb 16 Evening Update - Level 1 and Level 2 Technical Analysis
I think we could correct to an ALL-LOW 8200-8500 as an ABC correction after these 12345 waves.
I think we could correct to an ALL-LOW 8200-8500 as an ABC correction after these 12345 waves.
@philakonecrypto ABC correction (in red) could correct to a 8200-8500 level:
(1) This is the end of Wave 1 of light blue 12345. Wave 2 retraced little, wave 4 should retrace more. 0.618 Fib retrace.
(2) It is strong support going back to Feb and Nov.
(3) 0.618 Fib retrace (as wave 2) for dark blue wave1 of 12345 wave. (+ Previous wave 2 (light blue) retraced little, this time (dark blue) wave 2 might retrace bigger).
(4) 0.618 Fib retrace for wave 1 of cycle 12345 wave (weekly chart), and there should be back and force between 0.618 - 0.5 of wave 1 at the end of wave 2 before wave 3 starts.
definitely anything is possible. always best to play by ear day by day.