gillianpatrice

USD/BTC - Strategy - Patience + Reward

COINBASE:BTCUSD   Bitcoin
I see a two step pattern down to a 0.382 of the last rise & an initial take profit target of 1.27 of the retracement = 2225/2229 (also overlapping fib levels). This is a good level of support. I am more comfortable taking a carry trade from the next level down once the 2 step pattern completes to the 3rd touch of the Daily TL - and the confluence of 1.618 profit level of the correction also a 0.236 = 2057/2050 a major support level tested previously with reversal candles. Often price will retest these levels a 3rd or 4th time before rising and making a HH on the daily. Stop would be placed under the last swing low 1838. My targets are 1st - 3611 2nd- 3685 final- 4398.

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