BTCUSD - Getting a bit closer as correction structure unveils
Updated
as long as below 9,737.16, should expect 8,279.58-7,594.69 for buyers to show up.
As move from the lows is in a corrective 3 waves, I won't buy, preferring other crypto setup like xmrusd or zrxbtc as discussed in TradingView.
If you go long in the specified zone, I would get out below 7,590 because nothing says it has to stay above 6,427.16 or 5,920.72 as those levels are not protected (no bullish sequence in higher degree and no motive 5 waves up).
For me to go long again, I would wait for a break of 9,737.16 from lower and buy the correction in 1h time frame.
Invalidation level to the upside is 5,920.72, line in the sand for bulls.
Check related ideas to understand why cycle from 6,427.16 is not a motive 5 waves to the upside.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 22/04/2018-28/04/2018, I propose ZRXBTC
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
As move from the lows is in a corrective 3 waves, I won't buy, preferring other crypto setup like xmrusd or zrxbtc as discussed in TradingView.
If you go long in the specified zone, I would get out below 7,590 because nothing says it has to stay above 6,427.16 or 5,920.72 as those levels are not protected (no bullish sequence in higher degree and no motive 5 waves up).
For me to go long again, I would wait for a break of 9,737.16 from lower and buy the correction in 1h time frame.
Invalidation level to the upside is 5,920.72, line in the sand for bulls.
Check related ideas to understand why cycle from 6,427.16 is not a motive 5 waves to the upside.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 22/04/2018-28/04/2018, I propose ZRXBTC
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
Note
4h view still in play as price below 9,737.16. check latest 1h chart idea for updated levels to the downside. Still not recommend to sell.
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Disclaimer
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