AW Bitcoin Analysis - Short Trade Opportunity Chart...
This short trade idea is based on the short trade video linked below.
Here there are a few different scenarios we could be looking at.
It is my believe that the recent move up in Bitcoin is purely corrective.
I expect Wave 3 down for Wave E to begin moving down shortly.
I have 3 different targets.
The first is minimum expectation of making a new low at $15,500.
The second is a 2.618 extension of Wave 1 down at $13,451.
The third is a 1.618 extension of price action from the start of Wave 1 to the end of Wave D of Wave 2.
If someone says that Bitcoin is going higher then you need to question the basis for the claims.
The same can be said for why would it move lower.
Hopefully my videos today have given you an understanding of why I see this happening.
At the end of the day, I will be looking for a complete 5-Wave move down before calling a low.
Given that this is the final move in the entire correction, I expect it to go off with a bang!
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
Here there are a few different scenarios we could be looking at.
It is my believe that the recent move up in Bitcoin is purely corrective.
I expect Wave 3 down for Wave E to begin moving down shortly.
I have 3 different targets.
The first is minimum expectation of making a new low at $15,500.
The second is a 2.618 extension of Wave 1 down at $13,451.
The third is a 1.618 extension of price action from the start of Wave 1 to the end of Wave D of Wave 2.
If someone says that Bitcoin is going higher then you need to question the basis for the claims.
The same can be said for why would it move lower.
Hopefully my videos today have given you an understanding of why I see this happening.
At the end of the day, I will be looking for a complete 5-Wave move down before calling a low.
Given that this is the final move in the entire correction, I expect it to go off with a bang!
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
