BTC continues downward trend
This is not financial advice - just my personal opinion on BTC's movements and where it might go in the short-term.
BTC continues on a downward trend, as expected. It's traveling within a clear channel. I believe we are currently on the 3rd wave of the C pattern. If a 1:1 extension is achieved, we will hit wave 4 and bounce up slightly at @ 8800.
Because I'm relatively new to EW and FIB chart analysis, I'm still riding my short from @10200. Initially, I planned on riding it all the way down to the end of the C wave, which I see as @ 8000. However, as my confidence grows, I'm considering playing the 4th wave up for a few % points, and then jumping back on the 5th.
Comments and critiques are very much welcomed!
https://www.tradingview.com/x/zRRMshLZ/
BTC continues on a downward trend, as expected. It's traveling within a clear channel. I believe we are currently on the 3rd wave of the C pattern. If a 1:1 extension is achieved, we will hit wave 4 and bounce up slightly at @ 8800.
Because I'm relatively new to EW and FIB chart analysis, I'm still riding my short from @10200. Initially, I planned on riding it all the way down to the end of the C wave, which I see as @ 8000. However, as my confidence grows, I'm considering playing the 4th wave up for a few % points, and then jumping back on the 5th.
Comments and critiques are very much welcomed!
https://www.tradingview.com/x/zRRMshLZ/
This is NOT financial advice - it's merely my opinion. Do your own research.
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Please, comment / critique my posts.
And, unless you love losing money, ALWAYS use a stop-loss!
Happy Trading!
RP
Like.
Follow.
Please, comment / critique my posts.
And, unless you love losing money, ALWAYS use a stop-loss!
Happy Trading!
RP
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