Bitcoin - Before the Bottom

١٧ يناير ٢٠١٨

Chase the C leg of ongoing pullback. Its almost always a 5 wave count.

Exit at wave (4) : 11100...11750
Target for wave (5) : 8700

P.S. : Beware that rest of the exchange charts are a little lower than Kraken.

١٧ يناير ٢٠١٨

ملاحظة

Wave (4) completed as expected. Sleep in fiat.
Wave (5) will be studied again as wave (3) is over-swinged.

١٨ يناير ٢٠١٨

ملاحظة

Several unsuccessful attempts to break C leg. Its safe as long as H4 closes below 11832 (0.5 fib). Swing trade options start above that.

٢٤ يناير ٢٠١٨

ملاحظة

Stall on pivot line. As leg (4) swinged higher to (0.382 fib) upcoming leg can be lower than mentioned above.

٢٤ يناير ٢٠١٨

ملاحظة

Bulls are tired and unreliable. Risk/Reward is to high.

٢٤ يناير ٢٠١٨

ملاحظة

٢٥ يناير ٢٠١٨

ملاحظة

TP @ 11650 --- Profit +1%

Too many resistances to tackle with, recent lower leg is damaged but still bearish.

٢٥ يناير ٢٠١٨

ملاحظة

Bears won for this leg.