Is it time for BTC to go down? Is this the start of a possible 5th wave?
This is only one possible TA for short, although there are many arguments and the possibility that BTC is still going up. But currently the risk reward is so good that this trade looks very attractive. The analysis was made with Fibonacci, Elliot waves and harmonic patterns. Currently BTC reached TP1 for Anti Bat pattern. More on this, that is, in more detail the next day or two, when I have a little more time (and until then, if the bulls want to, I can disable this idea)
This is only one possible TA for short, although there are many arguments and the possibility that BTC is still going up. But currently the risk reward is so good that this trade looks very attractive. The analysis was made with Fibonacci, Elliot waves and harmonic patterns. Currently BTC reached TP1 for Anti Bat pattern. More on this, that is, in more detail the next day or two, when I have a little more time (and until then, if the bulls want to, I can disable this idea)
Comment:
TP1 reached for Anti Bat harmonic
Comment:
Cypher harmonic pattern if is deep retracement for next wave.
Two other possible harmonic patterns.
All together possible EW with invalidation for this idea, all three patterns and fib retracement (low to high). I can spot some confluence if get there, where is good idea to take profit (if you are short) or looking to take long (wait for confirmation before jump in trade.
Two other possible harmonic patterns.
All together possible EW with invalidation for this idea, all three patterns and fib retracement (low to high). I can spot some confluence if get there, where is good idea to take profit (if you are short) or looking to take long (wait for confirmation before jump in trade.
Comment:
Here is how looks trade with Trade manager to track trade on chart live.