[BTCUSD] Bearish Impulsive Structure

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bearish impulsive structure (12345) in development on H4 chart, High Risk Bearish Setup but with a good R/R.

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Comment: The trend is still bearish...
Trade closed: target reached: TARGET 1 HIT!
Comment: ...still bearish!
Trade closed: target reached: TARGET 2 HIT!
If this is wave 5, then a nice corrective bounce will follow next week after new futures contract comes on, right?
+1 Reply
SignalSwiss josephtse
@josephtse, it's possible...
NIce work, lets see how it plays out
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Would you sell your BTC / alt holdings for now to Tether?
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Wave 4 cannot overlap the price area of wave 1. Your wave count is a little off. This could be a Combo, worth considering. So you could be seeing an X wave rather than a 4. Not a criticism just a comment on the wave count, so BTC may yet still fall as you suggest.
+1 Reply
SignalSwiss TradersClub
@TradersClub, If you do not get offended, I tell you that you're wrong, you have to look at the closures !!
TradersClub PRO SignalSwiss
@SignalSwiss, Like I said, wasn't a criticism. Price fell in the end. Just noticed you said 4 rather than X. Well done! I think we all agree BTC is stuffed. Not offended at all hopefully you made some good money too. I am a full time Cable trader, so never looked at BTC. Tough cashing out anyway.
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SignalSwiss TradersClub
@TradersClub, Great!! ;)
I agree with your direction and entry points, but I think wave count is 5-3-5 zigzag. With moderate low of 8000-7200, and extreme low around 5000.
+1 Reply
SignalSwiss thewhitefox
@thewhitefox, thank you for sharing!
+1 Reply
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