We are in retracement territory, and BTC has been hovering around the .5 retracement level, but we still have to finish wave C to complete the retracement. If the flag breaks down I might short until the .618 level to play it safe...if it breaks up then the retracement would be considered fulfilled and will go long for a nice wave up...If anything after the retracement is done, going long will be my main move as this was a bullish retracement.....
This is not financial advise, just a theory of where BTC might go. GL trading and happy holidays to everyone!
This is not financial advise, just a theory of where BTC might go. GL trading and happy holidays to everyone!
Note
Looks like the .5 retracement held, will be looking to go long here soon.Note
I spoke to soon,and the flag did break down. Looks like we are headed to the.618 or .786 level. I'm not shorting as I didn't put orders below the flag breakdown, but will be watching and waiting to go long.Note
BTC fell exactly to the .618 level where I went long..not sure if I plan on holding this trade or selling and buying back in.
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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.