This my revised scenario after spending more time on the BTC charts this morning like the old time.
I haven't given much time to BTC those past 3 months as my entire focus was on day trading the DAX and SP500 BUT when I see opportunities like those, I cannot stay quiet :)
BTC is looking to reverse in my opinion after a mini bull market of 340 days +
I see a very nice SWING trade opportunity. I will try to ride this move to the 38.2% retracement of the entire WXY around 28k for that possible SHORT SWING PLAY or wave A (Bull case see below)
In terms of ELLIOTT WAVES analysis, it seems that we have just printed another ABC in a
WXY larger figure.
This would give 2 possible scenarios
1/ BULLISH: We just printed a large wave A (going back to 25k region to then gong to look for 42k
or
2/ BEARISH: We are going to print a new low around 14k (not my primary scenario but another catalyst or black swan event could again send BTC to lower levels).
I haven't given much time to BTC those past 3 months as my entire focus was on day trading the DAX and SP500 BUT when I see opportunities like those, I cannot stay quiet :)
BTC is looking to reverse in my opinion after a mini bull market of 340 days +
I see a very nice SWING trade opportunity. I will try to ride this move to the 38.2% retracement of the entire WXY around 28k for that possible SHORT SWING PLAY or wave A (Bull case see below)
In terms of ELLIOTT WAVES analysis, it seems that we have just printed another ABC in a
WXY larger figure.
This would give 2 possible scenarios
1/ BULLISH: We just printed a large wave A (going back to 25k region to then gong to look for 42k
or
2/ BEARISH: We are going to print a new low around 14k (not my primary scenario but another catalyst or black swan event could again send BTC to lower levels).