In elliot wave perspective I believe the drop from the top till the current bottom we have completed a five-way move. It also can be a w x y move as well hence this is a great place to put a spot on long position. Market may make one more drop to the downside around $100 but regardless the movement, I still believe there will be a bounce coming soon in the future...
As bearish as I am I believe that the market is going to print an expanded flat scenario. But Market can do whatever they want it can turn this expanded flat into a bullish scenario. Therefore I am looking forward to spot long at this area as there is a potential a 20% to 30% gain by just holding spot. Having a leverage future long as this region is a little bit...
Bull pennant c wave can be impulsive..
But the triangle c wave can only be 3 wave down.
So i expect the market going to pull back after making a 5 wave down.
It’s potential making a triangle.
To trade the triangle. We can either long now. Stoploss last low. OR, you can wait for C wave of the Triangle to complete before taking a position. And this will be the finished cycle of B wave of a bigger triangle.
i believe we have a Bullish Pennant Triangle. Wait for it to break out, now waiting for 1 last retest before blasting off to upside 11400-11800
I will be Taking profit laddering in...
Anyone who wants to take this trade, please reminded, that we might hit stoploss easily as well, and retest 10400... so having a stoploss is really important, remember, this is a...
It will take a few more hours (24-48) of consolidation before btc will make a pump on Sunday, and dumps back down on Monday...
It has kinda been a traditional sunday is a pump day! So i will be watching out...
Current chart showing a possible B complex... or a potential triangle.
