BitcoinShort
Potential non-failure swing
The recent breakout from the ascending wedge (a bearish pattern) may have been an extension of the previous 5 waves, rather than the start of a new set.
This would be a "non-failure" swing because it didn't fail to break above the (5) wave.
My lower targets are based on the general rule that support is found at the (4), but in a low liquidity markets we can lower that to the (2). We can still place a stop below the (1), but a secondary stop could help you sleep.
Then, the magic sauce of the non-failure is a fairly reliable resistance under the A wave, which provides a short with a target just below the (4).
This would be a "non-failure" swing because it didn't fail to break above the (5) wave.
My lower targets are based on the general rule that support is found at the (4), but in a low liquidity markets we can lower that to the (2). We can still place a stop below the (1), but a secondary stop could help you sleep.
Then, the magic sauce of the non-failure is a fairly reliable resistance under the A wave, which provides a short with a target just below the (4).
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