Based on the reverse divergence on the D1 chart it's more likely for BTCUSD to move higher. With that assumption the upside target would be a minimum of $429.80 with higher prices being likely. Once the WC completes expect a final leg down that targets $320. If it's still bearish I expect $260 to be tested.
Trade active:
Going long with stops below the market. See updated imagine in the attached note.
Comment:
Order cancelled:
Cancelled the order since price is below a critical level. I'll re-enter longs above 381. The risk is the lowest to enter here however. It still presents an excellent RR trade.
Comment:
Moving nicely towards target...
Trade closed: target reached:
Expecting a correction from this level. Since it's 90% to the target it's better to exit now.
Comment:
My bullish target is still $451. Looking for a correction to add longs.
Comment:
We are either at a top or about to have a correction. If this isn't the top then expect $451 before any possibility of a reversal.
Trade active:
Shorted at the top, posted late but I indicated before $451 was my entry for shorts. Exit 1/2 at profit, exiting the rest @ $420. This will either be the high or we have one more leg higher. Will be building shorts from here on in. If it's bearish $320 is the minimum target. Good luck.
Trade closed: target reached:
Exited remaining 1/2. Still much more downside potential however there's a likely leg higher coming. It's unclear if the expansion wave will make new highs. I'll be looking to enter larger positions on this rally.