Bitcoin - Bottom is not in
Wrong on my last idea, but this range is an irregular ABC, so we are still in Wave 4.
Confluence of 2 fib levels potentially ending at 14.6k.
We haven't got that 5-move down, so Wave 5 is not done yet. Bottom is not in.
Could still take a few days for that deviation to play out, but now is not the time to go long.
Good luck.
Confluence of 2 fib levels potentially ending at 14.6k.
We haven't got that 5-move down, so Wave 5 is not done yet. Bottom is not in.
Could still take a few days for that deviation to play out, but now is not the time to go long.
Good luck.
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This is the HTF chart. ملاحظة
CME gaps to be filled. I hope we don't get to 9k. Even if the analysis is wrong, price is still more likely to fill 17k first before going up.ملاحظة
Shorting here at 50% W.4 ret. Trade invalid above 26.6k.
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BTC correcting to previous Wave 4, Offering another chance to short.Could chop around here for a bit but a break below (B) is a clean entry.
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Still in trade and still bearish. Looking for this to play out.
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First part is done. This is a H4 structure, so the impact is going to be quite large if it breaks down.ملاحظة
Didn't get as high, but broke down anyway. ملاحظة
BTC is now at resistance turned support, so consider taking some profits if you are short as it can still run up once more.ملاحظة
Taking a short here.ملاحظة
Stopped out. Re-trying shorts with SL at 23600. Hidden bearish divergence (Indicates underlying weakness. Found during retracements in a downtrend.) + Retest backside of broken trend line.
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Seems like this played out instead. No change to this trade. Shorting. The 3-drives that Bitcoin frequently gives was already done. This swift move up is to clear stops.
Idea will be invalidate above 26.6k.
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If you have emotional trouble selling, try flipping charts and ask if you would have bought on this setup.ملاحظة
EQ Highs + too clean above. Could get sweep once more.ملاحظة
Pressure is on the downside, but taking a small long now hopefully to 25.7k.ملاحظة
No change in plan. Still targeting a sweep of the clean highs.ملاحظة
Didn't expect the down move to 19k, but now we finally got the sweep at 26k.ملاحظة
There is always 3 chances to sell. I believe we are in the 2nd.Placing a tight stop loss to limit losses if wrong.
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