BTSBTC Short trade setup

POLONIEX:BTSBTC   BitShares / Bitcoin
BTS will correct a bit after it broke out of the channel, forming corrective wave No 4, but it shouldn't get higher than D (3737)

Open trade : as near as you can to 3737
Target: 2500
Stop loss: a close after 3800

We're in a Double Zigzag correction : textbook form here
Trade ist aktiv: opening a trade at E
Trade ist aktiv: Adding to my short @ 3700 resistance . if it breaks, trade is cancelled.
Kommentar: I messed up the last chart.

Here is how it should look like
If 6600 is the top of Wave 1, then Wave 2 can't reach 1600 as it would violate the Wave 2 rule
at this point it will just follows btc moves until reversal near 7.8k. we might see 2800-3000 sats for the last time then i expect a btc reversal at 7.8k and alts will follow the uptrend.
SimonMercier SimonMercier
@SimonMercier, yesterday dump seems like margin liquidation and still didnt made a lower low while btc see unprecedent dip, BTS doesnt show the lower lows pattern.
mostly_george SimonMercier
@SimonMercier, looks like you're right. It mostly follows btc. But i still think we have another wave down to complete the A correction
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