Monthly/Weekly Timeframe the market structure of BTC and how it has pushed up to new highs and completed ABCD Fib.
The second part I showed where we are currently after completion of D extension.
BTC is currently pulling back and looking to create a projected C point around $13000 area. This is where we are looking for continued buys to upside D extension of $21,300.
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On Intraday Timeframe market structure has broken and momentum has shifted to the downside. If selling pressure is strong a to retest at $17650 will signify fast sell off to Point C.
If not rejected at $17650 level, market is looking to retest $18500 level before selling continues.
The second part I showed where we are currently after completion of D extension.
BTC is currently pulling back and looking to create a projected C point around $13000 area. This is where we are looking for continued buys to upside D extension of $21,300.
---------------------------------------------------------------------------------------------------------
On Intraday Timeframe market structure has broken and momentum has shifted to the downside. If selling pressure is strong a to retest at $17650 will signify fast sell off to Point C.
If not rejected at $17650 level, market is looking to retest $18500 level before selling continues.