BTC USD Big Picture Correction Swing-Trading Strategy
We are now in B wave of overall ABC corrective wave. I expect it to bounce off of 200DMA @ around 8500, and make another runup to 12200, which conveniently conincides with top of wave 4 of the first (12345) down from 20k.
If you look at the weekly charts, you can see the MACD and RSI are barely corrected, which makes me to speculate that it will go another 12345 leg down to test the bottoms.
It will retest the 200DMA again and bounce off to 2. This time, it will be a bulltrap. It will form a Head & Shoulders pattern, break through 200DMA and make a run down to test the bottoms.
If you look at the weekly charts, you can see the MACD and RSI are barely corrected, which makes me to speculate that it will go another 12345 leg down to test the bottoms.
It will retest the 200DMA again and bounce off to 2. This time, it will be a bulltrap. It will form a Head & Shoulders pattern, break through 200DMA and make a run down to test the bottoms.
Trade active:
Time-line is a little skewed. But BTC price action is following this wave count nicely.
Trade active:
Now in corrective wave 2 of green trend.
Your chance to enter shorts is here once it finishes its ABC up to green point 2.
Your chance to enter shorts is here once it finishes its ABC up to green point 2.