BTCUSD Medium Term Short
Due to BTC that keeps breaking the resistance barriers I believe that it has yet to reach its major deviation resistance barrier which might lie between $3850 - $ 4000. We see in August a possible Elliott 5 wave forming which could lead to a major regression in middle to late August to the areas of $3400 - $3600. Thus I would advise traders to put in medium term shorts in:
Target Short: $3800 - $4000
Target Take Profit 1: $3600 - $3700
Target Take Profit 2: $3400 - $ 3600
Optimal Take Profit should be $3500 to $ 3650
Stop Loss: $4150
Target Short: $3800 - $4000
Target Take Profit 1: $3600 - $3700
Target Take Profit 2: $3400 - $ 3600
Optimal Take Profit should be $3500 to $ 3650
Stop Loss: $4150
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