BTC Analysis - Possible Short Setup. We are able to see the market structure with LH's and LL's. According to this we identified the Elliot Wave which is marked by the blue lines. We currently are found in the retracement of the 3rd wave ( This 4th bullish small wave move that we are right now). Using Fib Retracement, we conisder that this retracement of the 3rd wave(current 4th wave) will go at about the 60 level of Fibonacci marked on the chart. After the price reaching that level we could consider taking short positions, towrds the target area, as that would be the 5th Elliott Wave.
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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.