BTC - Possible reversal - early indications look impulsive

Updated

Here's my initial look off yesterday's low. I'm looking for this 5 wave pattern to play out in somewhat as shown on the chart. However, the low must remain intact. Let's see how it plays out over the coming hours / days.

Note

Need to be moving higher soon, been here too long, thus, we could go lower!! Just a thought, but a reversal is usually always an impulsive move to the upside, and this is starting to have lost its momentum, just a thought, and something to be aware of.

uk.tradingview.com/chart/qOCImni8/

Note

Another updated chart, shows the lines at both the 50% & 61.8% with red arrows, this is the area we need to be pushing up through.

uk.tradingview.com/chart/qOCImni8/

Note

Too choppy, no position here, as price is likely to move lower.

Trade active

Just opened long on BTC at 5132, target $7000+

Note

Will update chart once wave iii is complete

Note

btc looks very weak right now, no open position, this could slice lower once the sp cash market opens

Note

BTC now heading much lower, should take out the previous low. I'm looking to perhaps take a long trade off the 3200 zone, i'd expect to se some sort of bounce of that area, but i'll first see how the price action unfolds, as it could go a lot lower. I plan to have a buy order set around the 1250/1000 as well, you never know if they head right to a near bottom.

Note

I'm currently flat with no position here.

dewpoint

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.