Bitcoin Target $6250 (2.6 fib ext and top of short-term channel)

7 באפר׳ 2019Once price breaks out of this consolidation range we should see an impulse to our 2.6 fib extension @6250 (Breakout by Tuesday). I will expand on this idea once we break out and confirm the move to the upside. I will also share my thoughts on why I believe we can now safely assume that the bottom IS IN. Woohoo! Hope you guys have a wonderful Sunday.

Below is a screenshot of the idea I posted a few days before the breakout. Timed the initial push perfectly and the move was even stronger than I anticipated. Exciting times ahead in crypto!



Note: Bar patterns are just a guide from previous fractals that I find similar and useful. I use them for visualizing but I don't rely on them or expect price action to mimic the bars. They do however provide good pivot points much of the time.

8 באפר׳ 2019

הערה

Live updates on this trade via my Instagram story stephencarroll3

9 באפר׳ 2019

הערה

We broke out of our triangle at the time I predicted but the breakout was weak and we have yet to see any follow through. I have entered a scalp short at 5300 with a stop loss set in profit and plan to wait to see if we get some sort of ABC flat before continuation to my next target of 6250. See pic below.

9 באפר׳ 2019

הערה

Correction is over. Only dumped to 5075 on binance. Holding the bottom of bullish channel and crossing .618 time pivot which should send us into our next impulse wave up. Updating throughout the day today on my IG story at @professionaldemotrader tradingview.com/chart/2xMzotWO/