BTCUSD is setting up for the breakout and continuation for next impulsive wave.
How you can trade on this chart.
We are a bigger correction.
1. Watch Sharp impulse from lower channel line or breakout of the correction and buy
OR
2. Let the price forms another correction and breakdown then look for buy at 886 of your fib lines.
In case if we dont see break up or another correction and price keeps falling and break below the previous low then it will change the buy setup.
This setup will be invalidated if price clearly close below the previous low. So stay bullish above the previous low. We can see longer term bullish trend resumption from 6k.
Good Luck.
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Alright so we are having another correction. Watch this correction to breakdown for one more drop and look for buy at bottom or watch for the bigger correction to break up and continuation for upside.
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Please support the setup with your likes, comments and by following on TradingView thanks
Little retrace up and then probably down, down and down again..
Wave-Trader
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@Schoppenhagen, I think your down down down is far away. Bring this down bit up.
Schoppenhagen
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@Wave-Trader, i was a little overreacting indead with the down, down, down.... But i think there is a very big probability that we will retest 5800 and when people are panicking at that point we could see 4800 region...But you are right, that won’t happen over night...
achtung360
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Wave trader, what do you think about the pattern that has been unfolding from Bitcoin from ATH and possibility of breaking to the downside in the future. Do you the believe the yearly support will hold? This is my view with the volume profile and how to handle bitcoin. Shorting the trend line resistance has worked for me every time.