Risking slightly less than usual. Shorting BTCUSD on a short-term sell due to BTCUSD being oversold spotting a nice divergence on the 1hr and being extended after a nice little rally push. It is clear to me that the price needs to pull back before the next leg up!
Disclaimer: This market idea is for educational purposes and by no means requires mandatory action....
Two things might happen here! Personal Educational Idea 1 Price pullback between the .382-.618 fib in marriage with structure along with bounce off of trendline. If this move doesnt happen and price shoots up breaking and closing the 44880 will trade the breakout of the structure of resistance fliping into support maxing 600 pips profit!
BY Yours Truly Baby Picasso!
Getting in a reentry following the trend! A lot of confluences with Time FIBS and FIB RETRACEMENT. In Harmony with the support of the structure. Also Seeing a placing of the 4th wave of Elliott wave theory is the best wave for massive impulsive.
Yours Truly Baby Picasso!
BTCUSD is in perfect harmony with the support structure as it does its first rounded retest along with bullish divergence. Longing BTCUSD due to it meeting liquidity level. And a complete finish of the Eliott wave and correction wave theory! All in SYNC in confluence making sense of a reasonable buy with outstanding risk to reward ratio! I Will be playing the zone...
