Hello traders,
I'm just adding this idea as this price movement could be a confirmation of previous idea with another indicative pattern.
So my first idea was an Elliot wave, we had full wave 5 pattern then went down for completion of a corrective wave A, now it seems to me that we finally formed corrective wave B at ~21000 now I would anticipate corrective wave C to roughly 19250$. We can also see that some type of Head and shoulders pattern appeared (left shoulder wave 3 to 4, then head wave 5, right shoulder corrective waves A and B.
Idea is negated if we break above 21000$ and stay above.
When/if we finish wave C down, I'd personally stay on sidelines, because we could see more capitulation on down. For now I opened shorts on both BTC and ETH (am expecting it around 1000$, maybe less)
Trade safe guys,
Always do your own research and learning!
I'm just adding this idea as this price movement could be a confirmation of previous idea with another indicative pattern.
So my first idea was an Elliot wave, we had full wave 5 pattern then went down for completion of a corrective wave A, now it seems to me that we finally formed corrective wave B at ~21000 now I would anticipate corrective wave C to roughly 19250$. We can also see that some type of Head and shoulders pattern appeared (left shoulder wave 3 to 4, then head wave 5, right shoulder corrective waves A and B.
Idea is negated if we break above 21000$ and stay above.
When/if we finish wave C down, I'd personally stay on sidelines, because we could see more capitulation on down. For now I opened shorts on both BTC and ETH (am expecting it around 1000$, maybe less)
Trade safe guys,
Always do your own research and learning!