BitcoinShort
BTCUSD - It is what it is...
It has been a while since my last update on the current situation in Bitcoin. BTCUSD
We witnessed a strong and bullish market which brought us up to approximately 12k, since then the price took a heavy beating.
I estimate that we are currently in a big correction Wave 2 which can bring us down to the 0.5 or the 0.618 retracement. The levels are shown on the chart.
Right now i am expecting a rise to approximately 11250$ which will represent a Wave B.
After this there are good chances for a heavy drop to 8200 or even lower prices.
I will be looking for a good Short (Risk/Reward) Setup at the end of Wave B, so stay tuned!
Please be extremely careful with a "Buy the dip" mentality, you can easily loose 10%-20% in this market cycle.
BTCUSDWe witnessed a strong and bullish market which brought us up to approximately 12k, since then the price took a heavy beating.
I estimate that we are currently in a big correction Wave 2 which can bring us down to the 0.5 or the 0.618 retracement. The levels are shown on the chart.
Right now i am expecting a rise to approximately 11250$ which will represent a Wave B.
After this there are good chances for a heavy drop to 8200 or even lower prices.
I will be looking for a good Short (Risk/Reward) Setup at the end of Wave B, so stay tuned!
Please be extremely careful with a "Buy the dip" mentality, you can easily loose 10%-20% in this market cycle.
If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.
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.
If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.
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.