BTC Long after successful ABC completion.
quick update. We have completed a satisfactory ABC correction after 5 cycle Elliot impulse wave(check out my linked Ideas below). Ideal would have been 9350 to touch the 20period SMA on the weekly but as seen below this will do.
It is reasonably safe to go long at this point of time. 100 period daily SMA was breached same as the other previous corrections, and while weekly was not touched it is satisfactory. As always capital management is recommended
It is reasonably safe to go long at this point of time. 100 period daily SMA was breached same as the other previous corrections, and while weekly was not touched it is satisfactory. As always capital management is recommended
Note
Additionally volume confirms reversal
Trade closed manually
Don't like current structure. We will wait and see to reduce risk. Recommend closing trades if you feel uncomfortableNote
trade active long reopened. average price 9500Trade active
Note
I will make news charts today with BTC ETH LTC and BCH. Present both bullish and bearish arguementsTrade closed: target reached
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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.