as you may remember i said that i see a flat correction in bitcoin.
there is different scenarios where the 14k top was end of wave 5 or wave 3. in this stage it does not matter.
the only thing that matters we completed a flat correction and now as i have shown you in the chart, started a new impulse wave as wave 1 or A and a 2 or B correction and potentially started the next impulse wave which may be a C wave or 3 or in a larger scope wave 5. so the wise thing to do is that: Long now and put a stop loss just below 61.8% of wave 1. it would be a very very low risk trade.
have fun with this trade
stay tuned
there is different scenarios where the 14k top was end of wave 5 or wave 3. in this stage it does not matter.
the only thing that matters we completed a flat correction and now as i have shown you in the chart, started a new impulse wave as wave 1 or A and a 2 or B correction and potentially started the next impulse wave which may be a C wave or 3 or in a larger scope wave 5. so the wise thing to do is that: Long now and put a stop loss just below 61.8% of wave 1. it would be a very very low risk trade.
have fun with this trade
stay tuned
Note
zoom in to the 5 min chart. you can see wave 2 is a WXY in which wave X is itself a WXY!Note
Risk/Reward Raio is 12.34! this awesome time to trade even a losing one!Note
Note
Our stop triggered, but formation is not invalidated.You can do something like this.
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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.