BTC Setting Up For An ABC Correction?
Updated
If we have resumed our descent then we COULD be yet to complete a wave 5 of a wave 5.
This would mean we have a little more room to go down and touch the support area and then head back up. The green boxes mark areas of volume which I think we may head up to test and make possible targets. Then it will be down to how we react to the 200 moving day average on the daily.
This would mean we have a little more room to go down and touch the support area and then head back up. The green boxes mark areas of volume which I think we may head up to test and make possible targets. Then it will be down to how we react to the 200 moving day average on the daily.
Trade active
It's finally reached the buy entry target and trade is now active.Trade active
Took partial profits of 50% at 7,500 and raised the stop loss. Higher target may be as low as 7,600 so will take a further 25% profits there, raise the stop loss and see if we can reach 7,700 or higher before opening a short position.Trade active
Not sure there is enough bull activity to take us to the 50% retrace so will take 100% of remaining profits at 7,600 and look at a good price to short.Related publications
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