BTCUSD Accending Triangle 5th wave comming up on 4hr chart
Hi all just wanted to throw this up its on the 4hr chart we can see the 100 EMA cross over the 200 EMA while
the 55 ema looks to be holding a bullish pattern, more of a long term basis, as you can see we are in an ascending
triangle and looks like we are onto our 5th wave now the question is are we going to break our and see an ABC
type retrenchment, if the resistance is broken at 11.500 to 11.750 can we keep our heads above this line
also please take into consideration the inverse head and shoulders we are just about completed, there is also
heavy resistance at that level.
We could break out on the 5th wave and retrace back to around $10,600 possibly a little lower or around this
level or possibly further at the moment im staying neutral as long term we are bullish and short term
we are bearish..It might be a chance to take some profit and buy back in if you can on the retrace if we turn
bearish, but there is defiantly a nice 5 wave pattern.
If you would like to help a n00b to get into trading please feel free to buy me a cuppa tea below every little
helps, im holding a position at £9930 and a little unsure if i should sell on this 5th wave before the break
out any help is very much appreciated. if i do i cannot buy back in for the exchange price it will be much
more than £9930 as i do not have enough money to buy from the exchange yet.
Please feel free to help some one who is trying to get into trading one step at a time guys keep up the
great work..
BTC
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32j6cU8RXK9A5EqCPoPU5u5GTpVt1Pu8Vh
Order cancelled:
Oh uhmm that was wrong, we seem to have fallen out the side of it. ahaha
Comment:
Did the 5th wave break and we retraced more than 100% im trying to learn aswell :
Comment:
C wave actually pierced the purple support line and bounced :) let's wait and see it went bullish as soon as it hit bit could break the line and bounce but its close..We will have to wait maybe the next few days.
Trade closed: stop reached