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REDBTC

RED looks bearish (4H)From the point where we placed the red arrow on the chart, the RED correction has begun. It seems to be inside an ABC structure, and we are currently in wave C, which is bearish. A demand zone is visible on the chart, which could temporarily reject the price upward. Since wave B did not retrace more than 0.618 of wave A, it is expected that the low of wave A will be taken out. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
Short
by behdark
RED New Update (4H)This analysis is an update of the analysis you see in the "Related publications" section The previous analysis scenario has expired, and this update's scenario is valid. Given the time correction of recent waves and the absence of sharp drops, this scenario for RED is valid, and buyers' footprints can be seen on the chart. We expect a strong rejection to the upside from the green zone. From the point where we placed the red arrow on the chart, it seems that RED's correction has started, which appears to be either a diametric or a triangle. Wave C itself has formed a diametric, and it is expected to end in the green zone, leading to a bullish wave D. The closure of a daily candle below the invalidation level will invalidate this analysis. For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark