Hello there, How are you doing? I hope you are doing great. First, I want to give a congratulation for all of you who has followed my previous short signals on bitcoin on this article
. you should be in a good profit now and of course you can move your SL in profit and make it a great risk free trade.
After all, I see the rejection toward the downside of previous strong support that I've mentioned and the 4 hours candle looks like the bulls are ready to take over control with potential bullish engulfing candle is forming. I would like to label this current move as the ABC structure as the retracement period and yesterday's drop could be the A wave structure that formed bullish rising wedge. If the A is finish and B is coming through, then I will targeting again the golden pocket at around $10500 at most before we see another drop.
What action to do right now? I am still on my short position and already set my SL at profit. I am not trying to catch this B wave to open long position considering the risk is not so worth it to counter trade during this major bearish movement. However, that is just my perspective and for all of you who is ready and love to trade on high risk circumstances, you can try to open long position.
Thank you.
After all, I see the rejection toward the downside of previous strong support that I've mentioned and the 4 hours candle looks like the bulls are ready to take over control with potential bullish engulfing candle is forming. I would like to label this current move as the ABC structure as the retracement period and yesterday's drop could be the A wave structure that formed bullish rising wedge. If the A is finish and B is coming through, then I will targeting again the golden pocket at around $10500 at most before we see another drop.
What action to do right now? I am still on my short position and already set my SL at profit. I am not trying to catch this B wave to open long position considering the risk is not so worth it to counter trade during this major bearish movement. However, that is just my perspective and for all of you who is ready and love to trade on high risk circumstances, you can try to open long position.
Thank you.
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