This is my analysis on Bitcoin for the month february
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Explanation:
Wave 1: Sharp move to hunt late shorters /exit of short positions
Wave 2: Long consolidation period to towards the line of our channel
Wave 3: Nice move to the upside, 1.382 of wave 1, taking out stop losses
Wave 4: Bullish flag , now with D (max pain point imo) Taking out high leverage positions in consolidation area, to take out high lev longers later
Wave 5: Biggest wave of this channel, take out all the shorters before making next move
This is not financial advice
Please leave a like or leave a comment if you have a different view on this price action.
Explanation:
Wave 1: Sharp move to hunt late shorters /exit of short positions
Wave 2: Long consolidation period to towards the line of our channel
Wave 3: Nice move to the upside, 1.382 of wave 1, taking out stop losses
Wave 4: Bullish flag , now with D (max pain point imo) Taking out high leverage positions in consolidation area, to take out high lev longers later
Wave 5: Biggest wave of this channel, take out all the shorters before making next move
This is not financial advice
Note
Waiting for the S&P to drop
Trade active
Note
Looks like the timing is on linear scale.Waiting for volume
Trade closed manually
Target hit on Linear scaleNote
Looking for a long now
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.
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.