Short

Bitcoin Elliott Wave Analysis - Shorting

Updated

From a purely technical approach we have a bearish bias against 18,149 price level. We identified a possible corrective Elliott Wave a-b-c or complex double or triple three pattern unfolding. Based on the premise that we see a down leg/wave in the beginning stages of occuring right now.

Sell Trade @ Market
SL 17,250

Sell @ Market Price est 16,690 via Coinbase

Minimum TP 11,954
Estimated 28% Profit Target Trade
Risk estimated 3.2%

Trade closed manually

So the bearish outlook and target is likely going to met however it will just take some readjustments. I am antici Actually I suspect an actual a-b-c Flat occuring off the highs of 19697. The wave b will likely be an irregular flat and be an classic bull trap and shake out some of the dumb-money when they see market price below 10k for a quick moment.

Before that there are pattern annd fibonacci based price resistance possibilities for this 18,000-18,500 that I will include in my chart on other account.

I'll post link to the updated chart on my other account

chapogcartel

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