BINANCE:BTCUSDT.P   Bitcoin / TetherUS PERPETUAL CONTRACT
Before the 7th of September, BTCUSDT.P I expected a huge pump, according to my prediction we are in 3d wave.
But I was wrong, this is was the 5th last wave.

On the 7th of September price falls happen. I am trying to understand what it was and I have 2 options.

In both options, I expect the same price direction and SL level.

Option 1
Impulse was a part of ABC correction - A wave. Now, it could be a price fallback. In this case, I will expect new local deep and price recovery to new heights.

Option 2
Impulse was a part of the 5th downtrend wave. So, it could be the 1st wave. In this case, I will expect huge deep.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.