Short-term Trend Analysis for Corrective (Green) Wave A-B
This falls in accordance with Scenario 1. I actually made this at the very beginning of (Green) Wave B, but was not sure if this analysis was good enough. After waiting a bit the data seems to show support for it.
Trade active
In the (Black) Fifth Wave right now. Nearing our short zone.Note
cryptocoinsnews.com/china-bitcoin-exchange-ban-extend-otc-trading-maybe-mining-wsj/Found this little number. If the allegations are true, it'd be the catalyst for another panic-sell. Keep an eye on the market people.
Note
Also, you may want to wait for a good confirmation before telling if we are for sure going down, or perhaps up.Note
Very close to entering the "Short Zone." I would recommend shorting now honestly, I always back out a little earlier than planned and I'm seeing resistance at $4,090. If there are small sell-offs for little bit (like an hour maybe) then we could see room for growth up to $4,150, but I think that's it.Don't rule out a possible rise either though. Looks unlikely, but that's exactly the Black Swan Problem.
Trade closed: stop reached
Yup.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.