As of right now #bitcoin looks like she found a top or is REALLY close to finding a top here on what Im calling a FLAT
Reason for this belief is stated on the charts but will list here
1. the highlighted portion "A" is 5 waves and is an impulse IMO
2. THAT low was broken and THUS any move after cannot be deemed an impulse (Unless im missing something entirely on the HTF)
3. we have so far moved up in a series of 3s from that low and have made 5 full waves IMO
Stop can be seen just above 9k
Fortunately Myself and viewers of my live stream caught above 8.8k for entry SHORT so we moved stop down to entry BUT if i were to look for entry now logical stop is last high, OR save capital for the move up that can happen.
As for the move down I can see this as a giant A wave and the move down B wave, Break down in fast and violent move and I will say that the ABC Flat was an X wave
Depending on the structure that forms will determine if we end up buying and holding the retrace.
TRADE SAFE
Reason for this belief is stated on the charts but will list here
1. the highlighted portion "A" is 5 waves and is an impulse IMO
2. THAT low was broken and THUS any move after cannot be deemed an impulse (Unless im missing something entirely on the HTF)
3. we have so far moved up in a series of 3s from that low and have made 5 full waves IMO
Stop can be seen just above 9k
Fortunately Myself and viewers of my live stream caught above 8.8k for entry SHORT so we moved stop down to entry BUT if i were to look for entry now logical stop is last high, OR save capital for the move up that can happen.
As for the move down I can see this as a giant A wave and the move down B wave, Break down in fast and violent move and I will say that the ABC Flat was an X wave
Depending on the structure that forms will determine if we end up buying and holding the retrace.
TRADE SAFE
Comment:
Have a plan. Trade it!