Nasdaq Aug Analysis
Possible Wyckoff accumulation at play.
If bullish on BTC, long right here and enjoy the ride.
If long, just think what usually follows after that MACD(Blue) goes under signal(Orange) line.
Made EW waves more precise, up to 1H of opening/closing price before direction(trend) changed and also, updated some targets for the future. As we all know by now, SEC denies Winklevoss application for a bitcoin ETF but many bulls still firmly believe that OBOE stands better chances of being approved, because it's a much older institution, but this is irrational...
Going short around @ $8650-8700 - continuation of the current parabolic growth after market crash is extremely improbable - there is 90% chance that ETFs will be postponed by SEC to 2019 or denied altogether, reason being that it usually takes a very long time to be approved for ETF, for example, it took 23 years for Gold to get approved. - 200 MA Daily...
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These are possible targets for taking a 'short' position. Please, subscribe or like if you found it helpful. Best regards.
These are main targets for a 'short' position. Subscribe and like if you like my ideas.