Bitcoin Buy Opportunity

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
After breaking down from the 6000$ level BTC has completed 5 wave down to test the present yearly low at 3470$ level. I see potential retracement opportunity if not a complete reversal for a possible re-test of 5500$ level.

Detected possible Inverse head and shoulder although many many of this pattern has failed recently. We keep our finger crossed and see how this is develop.

Kindly follow the stop loss advice on the chart.

Possible Entry and exit targets are clearly stated on the chart.

RED: Possible Support LEVEL

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It will be good to always understand risk involve in trading. Always trade with stop Loss in place.

Set up an entry/exit strategy for every trade, with good risk/reward ratio.
Trade active: The volume is looking good.

Trade closed: target reached: First target achieved, what a fast profit.
Trade active: Typical wave count show case a complex correction on BTC, do have the view on the chart. We might have hit citical level on BTC. Fingers crossed.

Trade active: All timeframe painting potential reversal

Trade closed: target reached: Second target achieved and at same time price hit wave 3 of the short term count.

Trade active:
Trade active: Possible wave structure of the correction

Comment: if price break through 3550 then the next target will be a test on the downside trendline to form possible divergence in the region of 3170$.

Trade active: BTC did just as expected.

Trade active:
Trade active
Trade closed: target reached: Another set target is achieved, price completed the first Inverse head and shoulder. and initiated the second bigger inverse head and shoulder.

Trade active:
Trade active:

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It should test 6k but will be unable to move above it because of toomuch inventory and lot of scared bulls.... they will dump....this time it will crash down to 1800 or 800...and languish there for a year...
Hi weslad dont you think we are going down to 3 k? You are the only one on tradingview wich dont write about it. Thx for answer
weslad Mic7484
@Mic7484, I do not see 3k for now, remember few month ago when BTC was at around 6700$ and we are all waiting for 6500$, before we could realized it BTc had flew up seriously. Same thing can happen now, we had the price tested 34XX$ zone already which is part of 3k zone. Well I may be wrong but I think BTC is done for now let see if we hit 5k soonest.
Please set a stop loss ...
weslad Damians
@Damians, If you read the post you should know this trade is risk free for those that took it when posted. Thanks for your comment
told you so .. , @weslad,
too soon to buy, wait or get rekt
weslad Damians
@Damians, I dont think so, its all about know when to scalp the long. like this call I made here hit 2 of my targets already before price re-turn back to entry price.
Looks like the IHS is playing out well
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