Updated count on the complex correction $BTC
Vis-a-vis my last count I updated my labeling.
According to my analysis we are in a complex WXYXZ correction and we are now in wave B of C before actually ending this corrective pattern. I would like to see this last Z wave to correlate with continued divergence on the MFI.
This could entail a long position to close to $8000 within the bearish channel and then a last leg down to the 0.7 fib level of wave A of the higher degree, possibly giving us an opportunity to short to $5200.
After this move we can expect a sharp reactionary move forming the first wave within C of the higher degree leading us either to $13500 or even higher.
Invalidation of this analysis would be a break of the lower bullish channel support setting the mark for a larger move down.
According to my analysis we are in a complex WXYXZ correction and we are now in wave B of C before actually ending this corrective pattern. I would like to see this last Z wave to correlate with continued divergence on the MFI.
This could entail a long position to close to $8000 within the bearish channel and then a last leg down to the 0.7 fib level of wave A of the higher degree, possibly giving us an opportunity to short to $5200.
After this move we can expect a sharp reactionary move forming the first wave within C of the higher degree leading us either to $13500 or even higher.
Invalidation of this analysis would be a break of the lower bullish channel support setting the mark for a larger move down.
ملاحظة
Of course the immediate trade would be short, but as soon as the correction ends we could see a profitable long optionتم حذف الأمر
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.