Right now we BTCUSD appears to be in a regular zigzag pattern, coming down in a 5 wave structure to complete the C wave, once this has been completed, I am looking to go long for another impulse wave (wave C of the bigger zigzag) which is marked by the blue arrow.
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Technically, the 4th wave is finished now, but it could still go up some more, always wait until it has turned around before shorting.
Comment:
This set up is turning out perfectly as planned. As for now, technically, the 5th wave has finished, however, I'd prefer it to make one more correction before going down some more to meet the target as shown. Still, the upside is the (much) bigger trade.