Looking at SWT/BTC on a larger time frame it has finished a MASSIVE downtrend in the form a likely ABC correction. This means we are almost certainly in wave 1 of what is likely a larger Elliot wave cycle. The impulse wave up has reached what is likely sub-wave 4 so we can expect another run up (sub-wave 5) where I am targeting 0.786 fib extension. We can then likely expect a small consolidation period (wave 2 of larger Elliot wave cycle) before we start wave 3 and what may be a large uptrend. Short term targets are labelled on the chart.
REMEMBER to set a stop loss, not doing so is swimming in shark infested waters especially in an overall bear market so bear infested waters.
*This is not financial advice and is for comedic purposes only*
Thanks to the legend Alan Masters for the original idea.
REMEMBER to set a stop loss, not doing so is swimming in shark infested waters especially in an overall bear market so bear infested waters.
*This is not financial advice and is for comedic purposes only*
Thanks to the legend Alan Masters for the original idea.
Trade closed manually:
Targets invalid but uptrend still in action.