This wave, frankly, looks like an E wave. But I will take profit at the N target because I like to limit risk.
Comment
⋅
It appears that bitcoin has just about reached our E target. While it is getting less and less likely that it will continue rising, we must prepare for the event that bitcoin does decide to ride past our E target from this previous trade
For this reason I have created these updated bullish projections for bitcoin.
However we must keep in mind that we are in a place price-wise that I would consider "top-heavy" or simply meaning it has a lot of people holding it that are feeling like they want to take profit. Because of this I have doubts of the bull's ability to maintain control. In other words, *this trade may fail*
Trade closed: stop reached
⋅
BTC went down hard. May he R.I.P. Sweet dreams, gentle prince.