BTCUSD 1h chart - And if it continues higher?
Updated
Following the previous idea on btcusd and also referring to an "educative" video on ethusd when it comes to understand my charts.
bitcoin is pushing higher as expected, but what if it continues to go higher? If you ask this question, this is because 1. you are not in a trade and eager to be part of the action by either jumping in at current level to the long side or shorting 2. you are in a trade with no pre-determined target. Both options being equally wrong in my humble opinion.
So for now, the count is maintained as it is but not for me to sell or because there is an obligation for btcusd to pull back now but because we are recovering from the lows and cycles are mature and price can turn anytime now.
Personally I sold the rest of my longs this morning at 9,200 (from 6,5550) because it was a 1h time frame trade. If it goes higher to 10k now, I'm ok with it. If it corrects, I'll get it lower.
Trade safe and have fun.
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.
bitcoin is pushing higher as expected, but what if it continues to go higher? If you ask this question, this is because 1. you are not in a trade and eager to be part of the action by either jumping in at current level to the long side or shorting 2. you are in a trade with no pre-determined target. Both options being equally wrong in my humble opinion.
So for now, the count is maintained as it is but not for me to sell or because there is an obligation for btcusd to pull back now but because we are recovering from the lows and cycles are mature and price can turn anytime now.
Personally I sold the rest of my longs this morning at 9,200 (from 6,5550) because it was a 1h time frame trade. If it goes higher to 10k now, I'm ok with it. If it corrects, I'll get it lower.
Trade safe and have fun.
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
Major clean up in the count as per 4h chart few minutes ago.But idea remains the same as I was anticipating the alternate count. So we are in red -3- about to complete and heading lower.
Warning: we are in a 3rd wave from the downside and nothing says that this is 3 of 5!!
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