Not shorting btc directly, using this to gauge how long to stay in a TRX short.
Looking like BTC made a 5 wave impulse to the top of the larger consolidation triangle and has completed the A abd B of the ABC correction.
Target for the C wave is about $9800 although I would expect it to eventually probe the bottom of the flat triangle and $9400.
I will be looking to tighten my stop on the TRX short when BTC is at the expected C point.
Looking like BTC made a 5 wave impulse to the top of the larger consolidation triangle and has completed the A abd B of the ABC correction.
Target for the C wave is about $9800 although I would expect it to eventually probe the bottom of the flat triangle and $9400.
I will be looking to tighten my stop on the TRX short when BTC is at the expected C point.
Comment:
Idea for possible impulse to complete path to C. I would be very surprised if it actually followed this path but it seems like something worth watching for.
Comment:
Updating to adjust for overnight price action
