BitcoinLong
Impulse wave up attempt
Updated
So far the bounce up is in play.
MACD: Bullish
RSI: Bullish divergence confirmed with a set of lower lows and higher highs.
We tested the support two times, it looks solid at the time being.
On an eliott wave perspective we currently have 1 wave up, a wave 2 as a double bottom and a small wave three that went for a 1:1 extension.
The EMA 55 is a decent target to close your long, it will act as a strong resistance. Ultimately if manage to break it, we could target for the the falling wedge's resistance at around 8k1.
Going long is a bad idea, it should have been done now, but watch how far we retrace our first wave for a possible entry.
MACD: Bullish
RSI: Bullish divergence confirmed with a set of lower lows and higher highs.
We tested the support two times, it looks solid at the time being.
On an eliott wave perspective we currently have 1 wave up, a wave 2 as a double bottom and a small wave three that went for a 1:1 extension.
The EMA 55 is a decent target to close your long, it will act as a strong resistance. Ultimately if manage to break it, we could target for the the falling wedge's resistance at around 8k1.
Going long is a bad idea, it should have been done now, but watch how far we retrace our first wave for a possible entry.
Note
It seems that i can't edit, I made a couple mistakes on the last sentence, what I ment to say is: Going long NOW is a bad idea, it should have been done on the support at 7550, but watch how deep we retrace our first wave for a possible entry.
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