Bullish Wolfe Wave
Yet another bullish Wolfe Waves appearance on Bitcoin's chartsI will position myself in a long order on Bitcoin after the equal lows are taken out. Closure below H4 demand invalidates the idea as we'd sink much lower in price if supply beat the demand here imo (and that is where I will be placing my stop loss orders and possible a short stop-limit order if I see fir by then). I will be taking profits at the three H2 bearish order blocks above (with the third highest supply point having the least probability) and trailing my stop loss below the price as we move up.
Use adequate risk management and position sizing please!
Please check linked ideas for my longer term sentiments.
Bullish Wolfe wave after a bearish one? Do we get from a bearish wolfe wave (yellow) a bullish one (green)?
Point 1 - 2- 3- 4 is already there.
I want to see a reaction at 1.618 FIB from point 3-4 first to see if it becomes one.
The bullish WW would make the target area of the bearish almost impossible unless it becomes a quick squeeze.
It's a precursory look at the next few days.
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