What an exciting year its been for Bitcoin bulls, loads of new money coming into the market and the media seem to be finally supporting and saying very positive things about BTC.
However, I think its time for a short term trend change and we will now finally start to see a decent downtrend.
The 4H chart is showing a classic triangle correction which has followed a strong down impulse, following our Elliot Wave rules we should see a 2nd impulse down for sure, possible down to around 1905.
What happens then will depend on the volume in the 2nd down impulse, lets catch the break, trade it down and reasses when the move is over.
Good luck traders!
However, I think its time for a short term trend change and we will now finally start to see a decent downtrend.
The 4H chart is showing a classic triangle correction which has followed a strong down impulse, following our Elliot Wave rules we should see a 2nd impulse down for sure, possible down to around 1905.
What happens then will depend on the volume in the 2nd down impulse, lets catch the break, trade it down and reasses when the move is over.
Good luck traders!
Trade closed: target reached:
Another BTC target reached. I will keep 1/3 of the trade open with a tight spot to see if we can take this down a little further.
I will update with another chart mid week.
I will update with another chart mid week.
