Looking for a bit more of a drop before adding in. will wait a little while before adding to position things may change over the next 6 months politically and economically, keeping risk to a low for the time being
After BTC/GBP rallied from lows of 416 in August, it then decided to show extension properties within wave-5 beginning in October... Recently I'm early November it began to form a Truncated Zig-Zag pattern which was part of the usual triangulation of a wave-5 extension and the completion of a 3 month up move!
Expect shorts to reach a minimum of 0.618%......
After a nice short on correction wave c making outstanding profits, a nice buy environment is arising for this currency pair... Special attention to the reversal signals for this pair as a Wave 1 impulsive rally is due to breakout shortly... Do not rely on indicators for this or you will not get in early enough.. Candlestick analysis will get you in faster than...
The BTCGBP has breached pink sliding parallel resistance active since late April and may recapture the Blue Lower Parallel am looking to see if close on the next few 4hr bars remain above this line. I do not mind a dip bellow to pink line to check if it is still support, bounces there would be very bullish indicating a potential GBP40.00 move up
Meanwhile...
