BTCUSD passed my w4 targets, moving on to w2

BITSTAMP:BTCUSD   Bitcoin / Dollar
7 months ago
My last assumption on BTCUSD             was that it is in a wave 4 (primary) correction.
For that assumption to be true the target 653 and 590 must not be broken.

As it turns out, they were broken down very decisively, this is a good clean signal hinting at a major wave 2 correction instead. ( Which I've also mentioned in my list of possibilities)

These are the new targets to look out for, the first being the target for a primary wave 2 in case that isn't over yet (not very likely , and is already touched and broken once though it still hold in OHLC4 chart)
The last two at 61.8 and 78.6% retracement marks the correction targets for major wave 2 correction.

Trade with care.
7 months ago

Price has reached pullback target for wave A (one of the many possibilities)

From here, watch closely, if target holds and price drops then it'll be a good place to short with minimal stoploss
If the resistance cannot hold then I'l have to re-analyze.

Still no position yet, waiting.
7 months ago
Comment: Earlier update is in the comment, I misplaced it there.

This pull back is taking longer than I initially thought it would, missed opportunity to go long for a short period.
7 months ago
Trade active: Just went Short at 585.82
SL at 592.58
TP at 500
7 months ago
Comment: Sorry, shorted at 595 / SL at 598
7 months ago
Comment: Continues to annoy.. lol.
Volume have been confirming an uptrend though, watch out and set you stop losses well for short position.
piriya33 PRO
7 months ago

Sub waves count in hourly chart (ohlc4 for line )
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