After the great run of btx in the last weeks, a bigger retracement was inescapable, which gave us a handbook ABC-correction. After shorting from 10200 I am looking for a good closing and longing again.
For me this is the area around 9200 USD
Why:
- Wave C mostly as long as Wave A
- Cup & Handle Pattern predicts a bottom at around 1/3 of the cup-size which is quite exaclty 9200
- Bullflag-Channel wouldn't be broken
- We also can see in that daily 50MA (200MA lurging a bit underneath around 8900), which can produce a good support for the next bullrun.
What is your opinion? What will be your entry points and why?
**Disclaimer: My glassbowl is broken, so I have to try using chart-analysis, which I am still not too experienced in. So trading my Idea is at your own risk.**
For me this is the area around 9200 USD
Why:
- Wave C mostly as long as Wave A
- Cup & Handle Pattern predicts a bottom at around 1/3 of the cup-size which is quite exaclty 9200
- Bullflag-Channel wouldn't be broken
- We also can see in that daily 50MA (200MA lurging a bit underneath around 8900), which can produce a good support for the next bullrun.
What is your opinion? What will be your entry points and why?
**Disclaimer: My glassbowl is broken, so I have to try using chart-analysis, which I am still not too experienced in. So trading my Idea is at your own risk.**