Fundamental Elliot Wave on BTC at the moment.
- Wave 2 did not retrace more than 100% of Wave 1
- Wave 3 is not the shortest of the three waves
- Wave 4 did not overlap Wave 1
I think shorting BTC would be a good choice here due to the fact that Elliot wave principle shows a downtrend, and additionally to the Gann Fan the trend failed to breakout of 2/1 multiple times. It's a bulls v. bears market right now, and bears are winning hard.
- Wave 2 did not retrace more than 100% of Wave 1
- Wave 3 is not the shortest of the three waves
- Wave 4 did not overlap Wave 1
I think shorting BTC would be a good choice here due to the fact that Elliot wave principle shows a downtrend, and additionally to the Gann Fan the trend failed to breakout of 2/1 multiple times. It's a bulls v. bears market right now, and bears are winning hard.
Kommentar:
We are seeing expected gains for the formation of the right shoulder
Everything looking good so far!
Everything looking good so far!
Kommentar:
Looking like the next correction is imminent.
Many have been caught by the bull trap, and they will be heavy in the red in the near future.
Many have been caught by the bull trap, and they will be heavy in the red in the near future.
Trade geschlossen: Stop wurde erreicht:
At the time of this post, BTC is now at 13600.
Started short position at 14800, stopped position at 13600. (-8.1%)
Beautiful correction. I think we could go way lower but I'm going to take my profits now as I'm satisfied with the return.
Started short position at 14800, stopped position at 13600. (-8.1%)
Beautiful correction. I think we could go way lower but I'm going to take my profits now as I'm satisfied with the return.
RSI previous was at around 25, and now it's at around a semi-healthy 42.
Something to think about.