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lucamodena
Sep 17, 2020 8:49 AM

Last Dip before the BULL RUN ! Short

Bitcoin / U.S. dollarBitstamp

Description

We have completed the first impulse of the upcoming MEGA BULL RUN with a 5 Elliot Wave structure. Now it's time for a healthy ABC correction.

We found some resistance at around 11 000 $. now we are preparing for another leg down which will form a C leg or this correction.

I think the price will drop til 9 100 $ level. This will mean we will finally fill the CME gap. 9 100 $ level also converges with the Fibo .382 retracement from the March-August impulse. It's also a strong support/resistance price action structure (green line).

RSI still has some room to go lower.



GL&HF ;)
Comments
Mmartinez66
Great TA, I'm looking for a short. lol
lucamodena
@Mmartinez66, I would be really cautious right now. Personally I am sitting on some cash and waiting for the market to make a decisive move. Good luck! ;)
PolarHusk
GreatWork
lucamodena
@PolarHusk, Thanks mate!
VincePrince
Good idea
lucamodena
@VincePrince, Thanks! I've noticed that we almost always have a very similar approach to the market! All the best!
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