The TradingPlan in-Bitcoin -fter Elliott waves is still valid. The-BTCUSD-has made its first anticipated sell off and is still likely to be in the consolidation wave 2. We have already reached the first return zone of $ 6,600 (38.2%) and now the c of the ii is consequently processed at approximately $ 6,900 (61.8%).
Following I expect the much sharper sale then as wave 3 of the c will be called.
The alternative low-likelihood roadmap could reverse the trend in the 5,700-5,800 range as it provides a strong support zone. If this stops, the run-up could start there, too, but it is still too early for that.
The parent bearish scenario is negated only when the $ 7,412 mark is exceeded. The first sign of this is when the red falling resistance line is exceeded.
Greetings from Hanover, Lower Saxony Stefan Bode
P.S. Please keep your fingers crossed and share the info if you liked it.
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Trade ist aktiv
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Rise within the correction I would find quite good.
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The 61.8% was missed with just under $ 8 and I would therefore considered satisfied. With that, I can point to "ice" again, especially as the Evening Star on Sunday evening gives a nice final image and confirmed the trend change to the south.
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Hi Risk, only an Idea.
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Reduce Risk to 1/3.
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What do you think about that? My Idea at the moment.
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Ist wave 5 of c of B ready? To early, but possible.
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Good Morning. The red (4) could now be finished and now wait for the first impulse of the red (5) in the chart marked as (i). Trading idea (riskier) at BitStamp current: SL $ 3,550 targeting $ 4,150. TradingIdealIdea: After initial startup of (i) the entry is sought. SL would be today's low, target remains the same with $ .4.150 and SL follow suit quickly.
Hi I spent a lot of time looking at the data and this in Long View Conclusion. There are a lot of details explaining why this in all probability can't be the the bottom.
StefanBode
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@achtung360, my main Target is in area $ 3.600-3.800.
StefanBode
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@achtung360, hold the picture with your left mouse and look to the red dashed line.