If you've been following my trade then you know how I've been trading BTC for the last few days. I know realize even though my price points have been on my EW count has been off. I have come up with a target that I believe is very likely to finish btc's fifth wave. 8000 is the 2.618 of the current wave structure btc is in and also the .618 of the run up from 7300. I will be playing this trade with a bearish view and will target the 8500 area.
Key points:
Entry: 8000
Exit: 8500
Risk: Reward: 4:1
potential profit: 6.25%
I will update as trade progresses
As always these are my ideas for my trade and not be used as advice on how to make your trades.
Well never mind I thought I had more time to get this out but it's breaking down right now
Key points:
Entry: 8000
Exit: 8500
Risk: Reward: 4:1
potential profit: 6.25%
I will update as trade progresses
As always these are my ideas for my trade and not be used as advice on how to make your trades.
Well never mind I thought I had more time to get this out but it's breaking down right now
Comment:
Looks like BTC has hit strong resistance and seems to be conforming to the downtrend channel. I'm doubting it reaches my target of 8000 and will starting scaling in my buys around the 8240 level.
