SHORT Elliott Waves + Fibonacci technical analysis for Bitcoin.

BINANCE:BTCUSDT   Bitcoin / TetherUS
Looks like a BTC bear flag to me. In addition bitcoin retraced 0.382 of 5 waves down, did an ABC and looks like we might do another 5 waves down, if anyone follows Elliott Waves + Fibonacci like I do, I do not see anything bullish yet for bitcoin . There is the possibility of making one more leg up, which if it did i can see 7.4max, but it's unlikely. Risk to reward ratio for a short is very good, only thing to note is that the volume profile doesn't fit exactly, high volume consolidation, so keep this in mind, though i'm short from 0.382 fib of $6877.
Comment: As i mentioned in original post this move seems to have some fuel left, something i didnt see happening on such low volume. i'm now targeting $7400/7500 to open a new short, that area being the 61.80 fib golden ratio level.
More technical analysis @ and
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out