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polock
Apr 22, 2020 10:15 AM

Back to the channel: Awaiting elliott wave 3 Short

Bitcoin / United States DollarCoinbase

Description

I expect bitcoin to fall back into its previous descending channel. Short btc from level 6900 to 7000 with stoploss placed above 7100. Target are the 6200-6300 zones.

This trades offers high risk-rewards ratio of above 4.

Confirmation of the set-up would be on breakdown of the bear flag pattern below the 6800 with close of the 4 hours.
Comments
KINGSEBA95
Nice analysis thank you!
polock
@KINGSEBA95, Thanks for the support!
VincePrince
Here is my overall TA on the BTCUSD
polock
@VincePrince, thanks for the input
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