BTCUSDT: Elliot Wave Intraday Trading
I have made certain adjustments to the current count of wave levels.
On the one hand, as before, there remains a risk of continued bearish dynamics and updating the historical low in the current phase. For that, the price needs to make a sharp jump to the $29,000 level.
On the other hand, an emerging bearish wedge could be the beginning of a sharp change in market sentiment.
Locally, the pattern may lead to a sharp decline in price, but subsequently it may be a local correction, which will become a starting point in the beginning for a medium-term price growth.
I'm still watching and planning the trading actions on the alts, because the productivity of trading operations on them is much higher.
I recommend to use patterns that are formed on BTC to plan trading on more volatile coins, which have some correlation with bitcoin price.
On the one hand, as before, there remains a risk of continued bearish dynamics and updating the historical low in the current phase. For that, the price needs to make a sharp jump to the $29,000 level.
On the other hand, an emerging bearish wedge could be the beginning of a sharp change in market sentiment.
Locally, the pattern may lead to a sharp decline in price, but subsequently it may be a local correction, which will become a starting point in the beginning for a medium-term price growth.
I'm still watching and planning the trading actions on the alts, because the productivity of trading operations on them is much higher.
I recommend to use patterns that are formed on BTC to plan trading on more volatile coins, which have some correlation with bitcoin price.
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