Bitcoin Short term analysis
Updated
Bitcoin is setting up for another push in the coming hours. A triangle is the best pattern to trade since the stoploss can be so small. We do not want wave E to go under wave C because that will invalidate the setup. By entering a long position as the price touches the lower trendline, a very good R/R can be achieved.
Note
As the price just went below 34100, wave E is already technically done, however the most likely scenario is that wave E extends lower a bit more.Note
Obviously, wave E was done with that price action below 34100 which completed the wave.
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