BTC continues downward trend
This is not financial advice - just my personal opinion on BTC's movements and where it might go in the short-term.
BTC continues on a downward trend, as expected. It's traveling within a clear channel. I believe we are currently on the 3rd wave of the C pattern. If a 1:1 extension is achieved, we will hit wave 4 and bounce up slightly at @ 8800.
Because I'm relatively new to EW and FIB chart analysis, I'm still riding my short from @10200. Initially, I planned on riding it all the way down to the end of the C wave, which I see as @ 8000. However, as my confidence grows, I'm considering playing the 4th wave up for a few % points, and then jumping back on the 5th.
Comments and critiques are very much welcomed!
https://www.tradingview.com/x/zRRMshLZ/
BTC continues on a downward trend, as expected. It's traveling within a clear channel. I believe we are currently on the 3rd wave of the C pattern. If a 1:1 extension is achieved, we will hit wave 4 and bounce up slightly at @ 8800.
Because I'm relatively new to EW and FIB chart analysis, I'm still riding my short from @10200. Initially, I planned on riding it all the way down to the end of the C wave, which I see as @ 8000. However, as my confidence grows, I'm considering playing the 4th wave up for a few % points, and then jumping back on the 5th.
Comments and critiques are very much welcomed!
https://www.tradingview.com/x/zRRMshLZ/
This is NOT financial advice - it's merely my opinion. Do your own research.
Like.
Follow.
Please, comment / critique my posts.
And, unless you love losing money, ALWAYS use a stop-loss!
Happy Trading!
RP
Like.
Follow.
Please, comment / critique my posts.
And, unless you love losing money, ALWAYS use a stop-loss!
Happy Trading!
RP
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
This is NOT financial advice - it's merely my opinion. Do your own research.
Like.
Follow.
Please, comment / critique my posts.
And, unless you love losing money, ALWAYS use a stop-loss!
Happy Trading!
RP
Like.
Follow.
Please, comment / critique my posts.
And, unless you love losing money, ALWAYS use a stop-loss!
Happy Trading!
RP
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.