This is an idea I have had for quite some time but have yet to really post until the first target became close. From a HTF perspective, I had a wave count on the bitstamp chart that indicated $69k could have been a HTF wave 5. Indicating a long corrective ABC type pattern would come next. This is certainly not trading advice, but what I am looking at for the next several months.
This $20500-$21k area could be the end of an A leg of a hypothetical (5-3-5). So we could look to take a long from there to appx .5 to .618 of wave A for a B target. Somewhere around $41-$52k. Then possibly making a move down for the C leg. Ideally would be around $19k.
Lots of confluences given in the screenshot for the area. Wont list them all here.
Yes, that is a Hank Hill watermark.
This $20500-$21k area could be the end of an A leg of a hypothetical (5-3-5). So we could look to take a long from there to appx .5 to .618 of wave A for a B target. Somewhere around $41-$52k. Then possibly making a move down for the C leg. Ideally would be around $19k.
Lots of confluences given in the screenshot for the area. Wont list them all here.
Yes, that is a Hank Hill watermark.