Do not buy bitcoin now. Wait until the correction has finished.
I see bitcoin currently in a big correction. -> wave 2
We can see several zig-zag formations which i summarize in an wxyxz correction.
We are overall in the third wave which means that the next wave can be very impulsive.
But first i want to see another move to the downside at least to 0.786 fibonacci level.
Furthermore there is a weekly demand zone which is usually very strong.
If you agree with my analysis please leave a like and follow my idea.
Let me know your view in the comments!
I will update this post in the future. Stay tuned.
Thanks for reading,
stibo :)
I see bitcoin currently in a big correction. -> wave 2
We can see several zig-zag formations which i summarize in an wxyxz correction.
We are overall in the third wave which means that the next wave can be very impulsive.
But first i want to see another move to the downside at least to 0.786 fibonacci level.
Furthermore there is a weekly demand zone which is usually very strong.
If you agree with my analysis please leave a like and follow my idea.
Let me know your view in the comments!
I will update this post in the future. Stay tuned.
Thanks for reading,
stibo :)
Note
Possible Long Trade (Short Term)We have a demand zone on the h4 timeframe.
Tp is just temporary.
Set your sl to entry after 30-40 pips in profit.
Note
Move SL higher to invalidation level.You can enter again if price goes to demand.
SL = invalidation level
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Related publications
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.