BTC Showdown - look for prices to stay above USD9060
Updated
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If the wave count of the larger correction over the past few weeks is correct, BTC should stay above $9060. Maybe it goes a wick below that, but any more than that would cause me to cut-loss early below $9060.
IMHO this is a low risk entry point seeking gains that could include new 2019 highs. I will link to my previous post pointing to the larger correction as being complete. There are a number of different wave counts:
- That we are in a deep wave 2 correction of a new 5 wave impulse wave up - bullish+,
- That we are near the end of wave B before wave C up - bullish,
- That we have only seen wave 3 and past of wave 4 of a larger wave (C) correction down - short-term bullish.
I will be looking for a hammer candle upon stopping short of $9060 with good volume. The blue box just denotes where I expect the decline to halt - I don't have loaded laddered orders there.
Please share your opinion and good luck everyone.
If the wave count of the larger correction over the past few weeks is correct, BTC should stay above $9060. Maybe it goes a wick below that, but any more than that would cause me to cut-loss early below $9060.
IMHO this is a low risk entry point seeking gains that could include new 2019 highs. I will link to my previous post pointing to the larger correction as being complete. There are a number of different wave counts:
- That we are in a deep wave 2 correction of a new 5 wave impulse wave up - bullish+,
- That we are near the end of wave B before wave C up - bullish,
- That we have only seen wave 3 and past of wave 4 of a larger wave (C) correction down - short-term bullish.
I will be looking for a hammer candle upon stopping short of $9060 with good volume. The blue box just denotes where I expect the decline to halt - I don't have loaded laddered orders there.
Please share your opinion and good luck everyone.
Note
Trade active
Well, would you look at that! magic!Order cancelled
Late update sorry. So it didn't stay above $9060. Now targeting ~$7000
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