BTCUSDT: Elliott Waves Intraday Trading
The bitcoin price found resistance at $24,000.
I was waiting for clarification of the situation to understand what structure the price may be in at the moment and what to do now.
On the one hand - 2 impulses were formed downwards, which may become a starting point for the start of strong sell-offs; on the other hand - the upward movement may continue within wave C of wave Y, forming a bearish wedge.
In such a situation it is possible to open a long position, but take into account the fact that in case of a negative scenario it is necessary to quickly make a decision to roll over on short sales.
I plan to sell bitcoin at the end of the wedge, or at the breakdown of the low of wave 1 as part of the descending momentum repeat pattern.
Best Regards,
CEO Tornado Capital
I was waiting for clarification of the situation to understand what structure the price may be in at the moment and what to do now.
On the one hand - 2 impulses were formed downwards, which may become a starting point for the start of strong sell-offs; on the other hand - the upward movement may continue within wave C of wave Y, forming a bearish wedge.
In such a situation it is possible to open a long position, but take into account the fact that in case of a negative scenario it is necessary to quickly make a decision to roll over on short sales.
I plan to sell bitcoin at the end of the wedge, or at the breakdown of the low of wave 1 as part of the descending momentum repeat pattern.
Best Regards,
CEO Tornado Capital
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