This is my analysis on Bitcoin for the month february
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Explanation:
Wave 1: Sharp move to hunt late shorters /exit of short positions
Wave 2: Long consolidation period to towards the line of our channel
Wave 3: Nice move to the upside, 1.382 of wave 1, taking out stop losses
Wave 4: Bullish flag , now with D (max pain point imo) Taking out high leverage positions in consolidation area, to take out high lev longers later
Wave 5: Biggest wave of this channel, take out all the shorters before making next move
This is not financial advice
Please leave a like or leave a comment if you have a different view on this price action.
Explanation:
Wave 1: Sharp move to hunt late shorters /exit of short positions
Wave 2: Long consolidation period to towards the line of our channel
Wave 3: Nice move to the upside, 1.382 of wave 1, taking out stop losses
Wave 4: Bullish flag , now with D (max pain point imo) Taking out high leverage positions in consolidation area, to take out high lev longers later
Wave 5: Biggest wave of this channel, take out all the shorters before making next move
This is not financial advice
Trade active
Comment:
Looks like the timing is on linear scale.
Waiting for volume
Waiting for volume
Trade closed manually:
Target hit on Linear scale
Comment:
Looking for a long now
Waiting for the S&P to drop