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Prices should not exceed 25,000 again until this entire move down is complete and it should fall for a long time.
A few hours before that i showed a bullish wedge that could possibly show a reversal as well, but the price dropped below it, which happens very often but than it should go up ...A breakout below our intermediate support at 1297.49 (horizontal overlap support, 38.2% Fibonacci retracement) might provide ... USDCAD is testing major resistance at 1.3023 (Fibonacci extension, Elliott wave structure) and a strong reaction could occur at this level to push prices down to major support at 1.2914 (Fibonacci retracement, Fibonacci extension, horizontal pullback support). for me if I was a betting person and you kind of need to be if you are trading and picking sides, we have 2 choices.... how can you be long but still think BTC is going to 4k!? C Wave looks like it is done finally, I would be looking for a sharp decline that breaks the lower trend line of the channel producing a zig zag for D and then a sharper move up for E which should look strong but not have much strength behind it. A long tailed bullish pin can be spotted on Daily chart rejecting from the key support area.Once this is done I would expect all hell to break loose and begin a sharp decline in Wave 3. Main concern is that my Stop Loss size is very large (662 pips), will definitely trail my Stop Loss when price goes in my favour.
Dear friends, it’s been a long time since I posted a lesson for beginners, please excuse me, I have been overactive with my projects.