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Kakashe

Bitcoin ABC pattern

Long
Bitcoin (BITMEX:XBT)  
Kakashe Updated   
BITMEX:XBT   Bitcoin
Elliott Wave
2
0
elliottwaves
I believe we are in corrective mode on the bigger picture. Lets see if it plays out.

On the chart I have ABC with different colors relating to different degrees.

I will be long only if we go below 6221 and my stop loss will be 5800 below the low of A. My target will be in the range of 6800-7100
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Because this is inside a bigger B wave , I am not trading this short. Price can ignore all and just do a more complex pattern. If we get a nice 5 waves then I will get interested to get in a long position.
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