BTC on a Possible Zigzag Correction

2 de mar. de 2021

FOMO on Bitcoin has passed already after making an ATH after breaching the highs of 2017.
Euphoria started when we see Elon Musk started to update his Tweet to Bitcoin and Tesla buying the crypto.

I'm short-term bearish for now that it will retrace around 35-36K Level. If my EW count is correct, we are now at the B Wave of a Zig Zag Correction.

I'm looking to short it on the end of B Wave. Keep tabs.

3 de mar. de 2021

Trade ativo

Went long on the 47.2K level. TP near the 1.618 Fib or around 52K Level.

3 de mar. de 2021

Nota

Partially close my position as there is no breather. I was expecting a slight pullback before reaching the 0.618 fibs.

I'll close my position if there a break of trend.

I'm now waiting for a lower low to set-up my short. Expecting that Wave 1 of C would unfold by early next week.

3 de mar. de 2021

Nota

What I mean is lower high. Not lower low. Just close long my position as it bounces off the 0.618 fib.

I'm gonna try to set it up now for a short position.

4 de mar. de 2021

Nota

Starting to trend on a downward channel. I'd like to see a clear lower high to place my short position.

5 de mar. de 2021

Nota

I may need to revisit my count. Doesn't doing what I expected. Price continues to trend downward without forming a lower high.

8 de mar. de 2021

Nota

Placed a short position on Wave 2 of Terminal Wave C of Zigzag.

9 de mar. de 2021

Trade fechado manualmente

Will revisit my count. Not working as I expected.

19 de mai. de 2021

Nota

the idea is correct but it was way way too early.. pfftt...