PatekCharts1

Long from start of Wave 5, and opening a short on 0.618 Fib.

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
I have opened a long position on the horizontal support that Bitcoin is holding at $6577, which coincided very nicely with the top of Wave 1. Elliott Wave - Wave 4 cannot move into Wave one's region, so it was a very nice risk to reward ratio long for me with stops just below Wave one's top. I will be holding this long(keeping a close eye on it of course) up to a double top / 0.618 Fibonacci retracement where i will be closing my long and entering into a very big short position with stop just above the descending triangle resistance.
Comment: So this short trade worked out very well :D

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