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Going LONG: Short term trend reversal BUY opportunity BITCOIN

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For a more in depth analysis, please review my other Kraken:XBTUSD posts.

Here is today's update:

Trade: do not trade off of the weekly if using leverage, trade at least off the daily. If trading without leverage risk and can tolerate periods of time in the negative on a trade for this weekly chart update:

BUY LONG at the .618 FIB $10670
SL: $10550
Profit Target: $11,475
Not a huge trade, but it goes with the upward trend

Here is the evidence:

Now that we made the B wave (wave 2) bottom at H4, we can monitor the daily and intraday timeframes for good volumes on which to BUY LONG to the projected C top. Do not buy off of the Weekly as the reactions and volume are very small still, indicating that we are in the early hours of the trend change off of H4.

Remember that the initial ABC from G_G2 is the A Cycle of SC4E, we are on the B cycle now, which is corrective. We should see lower volumes on this weekly chart. The gold line is the SuperCycle (SC) line.

We can buy now, and set a stop a few bucks below the G2 morning candle HIGH of $10,573, but I do not necessarily like the MACD and volume decline on the Weekly.

Minor, short term, UPWARD TREND, SC4E_Cycle B_Primary C began on H4 yesterday. Trend projection to C top at $11,491.70.

SC4E_Cycle B_Primary A is G2_G4; SC4E_Cycle B_Primary B is G4_H4:
1. Cycle B retraced 50% of SC4E_Cycle A (rose FIB)
2. G2 is good reversal formation (morning star reversal), supporting cycle b
3. Rising bottoms on G2 (twice essentially) and H4
• MORE H4 short term/minor trend Pivot bottom evidence:
4. H4 is strong gDegree and gFactor price pivot with G6, F, H,
5. H4 has good time alignment with multiple time frame price pivots(G2, G4, F) indicating good bull rotation in the short term
6. H4 found support on the 20MA which was also the price of the .236 retracement on the white FIB.
7. Projected SC4E_CycleB_Primary C is shown as projected to gold color .618 retracement. The projection is blue and the time estimate is just an estimate as well (OCT5)
8. Projection aligns with C extending 1.236 of A
9. Recently found support at the .618FIB and the 75% pitchfork
Trade fechado: objetivo atingido
Hi again! Hope you all took this trade and made a decent return! Topped at $11,499, so we hit exactly at the $11,475.
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