Bitcoin (BTCUSD): Emerging Short Setup

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Previously on the show, we were expecting a pullback in BTCUSD:

It did pull back just a little bit, but there's more to come. Under my wave model, the price should mark a new high around 8440+. This would complete the ending diagonal pattern and let us short this high-flyer. Alternatively, if the price breaks below 7700, the ending diagonal would most likely be negated, and we'll be looking to short the momentum.

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ملاحظة

5 waves of the Ending Diagonal pattern are technically in place. But we need to keep in mind that the 5th wave could be extended. That is, we don't have a secure signal just yet. Let's be patient, I'll keep you updated.

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ملاحظة

Idea has been updated: