[08/18] Beast Trading _ Today's Bitcoin Analysis
Beast Trading _ Today's Bitcoin Analysis
Bitcoin is on the decline as the very important upward trend I told you about yesterday breaks down.
Based on the Elliot wave, the shape and volume of the wave coming down from 25.2k (high point) are likely to be coming down as downward impulses.
The rebound, which rose to 24.4k yesterday, is seen as the second wave of this downward trend.
If this is a falling impulse, how far will it fall?
If you apply the universal value of 3 waves 1.618 scale of 1 wave, 1 wave and 5 waves 1:1, and 4 waves 0.236 of 3 waves to complete the wave, about 21k will be the end of this impulse falling wave.
Surprisingly, that position exactly overlaps with the upward trend line following 17.6k (lowest point) and 18.9k (lowest point).
Therefore, if you come to that position, if you enter the long position, the profit and loss ratio will be a very good position.
The green upward trend you see in the picture played a strong supporting role, but on the contrary, it was also a line that opened up when it was broken.
We need to be more careful because that line is now open.
I recommend that you focus on short positions rather than long positions
Bitcoin is on the decline as the very important upward trend I told you about yesterday breaks down.
Based on the Elliot wave, the shape and volume of the wave coming down from 25.2k (high point) are likely to be coming down as downward impulses.
The rebound, which rose to 24.4k yesterday, is seen as the second wave of this downward trend.
If this is a falling impulse, how far will it fall?
If you apply the universal value of 3 waves 1.618 scale of 1 wave, 1 wave and 5 waves 1:1, and 4 waves 0.236 of 3 waves to complete the wave, about 21k will be the end of this impulse falling wave.
Surprisingly, that position exactly overlaps with the upward trend line following 17.6k (lowest point) and 18.9k (lowest point).
Therefore, if you come to that position, if you enter the long position, the profit and loss ratio will be a very good position.
The green upward trend you see in the picture played a strong supporting role, but on the contrary, it was also a line that opened up when it was broken.
We need to be more careful because that line is now open.
I recommend that you focus on short positions rather than long positions