BitcoinShort
BTC Short
BTC has reached 0.618 Fib retracement from previous high.
BTC has reached the third 2.618 elliot wave extension.
BTC is beginning to run into heavy resistance created by the bottom of the descending triangle of 2018.
Currently in a broadening wedge formation on the daily which may be a reversal pattern.
BTC is printing a bearish divergence on the daily chart.
5% Bid Ask Spread in Bitmex is in the negative territory (this changes quite fast).
BTC due for a retrace even though most inidicators are bullish.
Expecting retrace to 0.236 or 0.382 range of third wave.
TP1 is 5200 which is 0.236 of wave 3 and coincides with the 21 day EMA and 21 month EMA. It is also just below the 55 & 89 Week EMA.
TP2 is 4850 which is 0.382 of wave 3 and coincides with the 200 day EMA and is just above the 21 week EMA.
BTC has reached the third 2.618 elliot wave extension.
BTC is beginning to run into heavy resistance created by the bottom of the descending triangle of 2018.
Currently in a broadening wedge formation on the daily which may be a reversal pattern.
BTC is printing a bearish divergence on the daily chart.
5% Bid Ask Spread in Bitmex is in the negative territory (this changes quite fast).
BTC due for a retrace even though most inidicators are bullish.
Expecting retrace to 0.236 or 0.382 range of third wave.
TP1 is 5200 which is 0.236 of wave 3 and coincides with the 21 day EMA and 21 month EMA. It is also just below the 55 & 89 Week EMA.
TP2 is 4850 which is 0.382 of wave 3 and coincides with the 200 day EMA and is just above the 21 week EMA.
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