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$BTC 👀 – 07/28/2022 | Breakdown of Latest/Current #Impulse (Rally) 🎯 - 📸 🚨 📌 #Price must at least close below the 0.236 (or 23.6%) Fibonacci level before we can consider Wave i (in blue) complete. Until this happens, we continue to move the Fibonacci to the highest peak to remeasure. 📌 Price made an equal low (or double bottom); this #liquidity (💰 Liquidity💰) makes for a good institutional point of interest (POI) on the retracement (pullback). From a smart money standpoint, this area represents where a lot of retail traders have placed their stop losses ( #stoploss). By triggering their stop losses on the buy orders, equals increased selling pressure and taking them out of the market because in order to exit a buy, you must (of course) “sell”. 📌 The green “buy zone” makes for a great #pullback / #correction / #retracement (whatever you want to personally call it) target 🎯 to complete wave ii (in blue). It's located directly under the liquidity (equal lows) and directly in the #GoldenZone (50.0 - 61.8% Fibonacci Retracement levels). 📌Not always, but usually, the #GoldenZone (50-61.8% Fibonacci), represents a high probability/lower risk, entry point for taking positions on the #market. 📌 Takeaways: 🥊 A) If you’re not familiar with Fibonacci retracements and how to use them, then start learning. 🥊 B) Step out of the retail trader mindset and learn think like smart money (institutions, hedge funds, or other big players). 🥊 C) Don’t be afraid of losing; #TrailandError. You’re always going to lose, just as you’re not always going to win. You can still lose the majority of your trades/investments and still be profitable if you learn to cut losses quick and let winners run. ✅ If you thought this was helpful or insightful: Follow, Like, or Share ✌🏾 #PublicCommunity 📈 View My Chart: https://www.tradingview.com/x/GyZsxtZa/ ⚠️ This is not investment or financial advice; Anytime you enter the #markets, you fully accept the #implications at your own risk❗️ #longterm #learning #makingmoneymoves #invest #strength #buildandgrow #buildandgrow breakingnews #crypto #cryptowinter #ElliottWave #FedReserve #StrongDollar #FOMC
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