BTCUSD - 1H Wolfe Wave 23/10/21

23 ต.ค. 2021

Potential Wolfe wave in play here. Target is yellow box by the time of the orange line.

Technicals:

• Pattern formation matches schematic.
  
• Bullish divergence on RSI, indicating the bearish move may be slowing down.
  
• BBWP at lows.
  
• Significant engulfing on decent volume, especially for the weekend. Yellow capitulation signal indicates it may have been a bear trap below the uptrending channel.
  

Volume signature on a lower TF:


This is not financial advise, and always DYOR.

25 ต.ค. 2021

บันทึก

Noticeable rejection on 63.5k resistance. Continue with caution.