The pair remains in a bearish trend and the impulsive structure should complete wave (5) around 3,500. On H4 chart the trend is bearish, and as long as the pair remains below wave (1), the next TARGET should be around 8,740. From a technical point of view, sell the pair on every rally.
![[BTCUSD] Bearish Impulsive Structure](https://s3.tradingview.com/i/IXQIETOE_mid.png)
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Thank you for support and trade with care!
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Thank you for support and trade with care!
Note
SUPPORT AREANote
Note
Trade closed: target reached
TARGET 1 HIT!Trade closed: target reached
TARGET 2 HITNote
Half Trillion-Dollar LossCryptocurrencies tracked by Coinmarketcap.com have lost more than $500 billion of market value since early January as governments clamped down, credit-card issuers halted purchases and investors grew increasingly concerned that last year’s meteoric rise in digital assets was unjustified. This week’s selloff has coincided with a rout in global equities, with markets in Asia extending losses on Tuesday following a white-knuckle day for U.S. stocks.
Some technical indicators suggest the rout in Bitcoin has further to go. The cryptocurrency’s Moving Average Convergence Divergence indicator, the most profitable of 22 trading signals tracked by Bloomberg over the past year, flagged further downside after turning bearish in December.
Bitcoin also dipped below its 200-day moving average for the first time in more than two years on Tuesday. The last time that happened, in August 2015, the cryptocurrency sank as much as 24 percent over the following two weeks.
Note
![[EW COURSE] ABC STRATEGY (Part 1)](https://s3.tradingview.com/j/JDcbSWRN_mid.png)
Note
nice rebound!!
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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.