Beyond of my technical analysis for Bitcoin "Short"
Hello guys, in my second day of my technical analysis of Bitcoin, I see that the price action is leading us in a possible correction of a capitulation of miners. So, this is bad news when has 2 weeks ago was the halving. So, this is a theory fundamental. But I take this as practice for me. Now, I see that elliot wave is leading me and we are in formation in the elliot wave #3, that a possible stop price will be $7,600 USD aprox. Now, if we see, later of the elliot wave #3, we can to confirm what we are on there.
And H1 timeframe, we have a possibility to entry in a short position, why? Because price action doesn't have force to continue it and I see that candlestick that we have. Also, I hope that Bitcoin touch my sell order limit at $8,900 USD and put a target profit at $8,700 USD to win a 2.50% of the movement down investing 0.02 lots of BTC.
And H1 timeframe, we have a possibility to entry in a short position, why? Because price action doesn't have force to continue it and I see that candlestick that we have. Also, I hope that Bitcoin touch my sell order limit at $8,900 USD and put a target profit at $8,700 USD to win a 2.50% of the movement down investing 0.02 lots of BTC.
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Bitcoin has show us a possible bullish movement in H1, because, we see a formation of double bottom, and included tripple bottom. And a singal of divergence bullish, it's the same situation in H4 timeframe.
So, in conclusion, the price do not make to broke down the zone of $8,700 USD and was rechazed for bulls, so, bears are trying to move and defend the zone what we are to going down, but, bulls are here. So, in some case, we can see a tripple bottom.
Bitcoin has show us a possible bullish movement in H1, because, we see a formation of double bottom, and included tripple bottom. And a singal of divergence bullish, it's the same situation in H4 timeframe.
So, in conclusion, the price do not make to broke down the zone of $8,700 USD and was rechazed for bulls, so, bears are trying to move and defend the zone what we are to going down, but, bulls are here. So, in some case, we can see a tripple bottom.