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jojofang0901
Mar 17, 2021 4:08 AM

BITCOIN Deeper Correction before the next long term buy 

Bitcoin / U.S. dollarBitstamp

Description


Hello everyone:

I haven't update bitcoin for a while since the last bearish move down where I sold my previous hold position.

Now that the price developed more on the lower time frame, its show a bit more structure now.

We can see price did broke the all time high briefly, before a short lower time frame impulse out of the ascending channel.

Latest price action on the LTF show a continuation correction in the making.

What I expect is to see short term bearish move down to the previous low area, formed a deeper correctional structure, and reverse from the bottom to continue the bullish trend that we have seen.

Personally not into the short term sell, but certainly has potential to the downside.
IF we get see price move down to the previous lows and form reversal price action from the bottom, then that's would be very good bullish continuation entry to get in.

Thank you
Comments
TopTradingSignals
I think it will retest the all time high first
jojofang0901
@TopTradingSignals, yes lets see what happens :) thx
hp87
Would love another buying opportunity!
jojofang0901
@hp87 yes indeed 😊
Mihai_Iacob
I have the same view
Thanks for sharing
jojofang0901
@OptimoomFX lovely nice to hear
financialflagship
Great setup, thanks for sharing mate. ✌
SDlektric
@financialflagship, Just that it's wrong
financialflagship
@SDlektric, Depends on your view. We also anticipate that a bigger degree correction should soon start for bitcoin.
SDlektric
@financialflagship, What is soon?
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