BTCUSD - Weekly View EW3
Updated
Wave 3 monthly, weekly and daily all converging here at 2000. Might be a good time to book some profit and wait for a/b correction as per previous trends. Wave 4 is the hardest to trade and we could be coming into that shortly. Obviously markets change due to new information and BTC remains on solid footing and now more then ever is a great time to diversify assets into cryptocurrency. Personally - BTC carries 10% of my assets. Once wave 4 completes I might consider upping that to 15% to 20% based on world political risk and current CB interest rate policies.
Note
Clearly we are in altcoin covering rally, and Asian (global) buying pressure due to recent alt pump and the action has been all accumulation with no consolidation flags. I put on additional long exposure after the short ab correction from 2200. I hope you did the same as a 500 dollar daily candle would not surprise me here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.