ridethepig

Offering BTC... a -10% move to the downside in play

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Here we are tracking the final stages of an impulsive wave. The market is starting to run out of steam and here I am looking to fade the highs at 6200.

From a technical viewpoint, the market is putting in a 5 wave sequence from the December 2018 lows. We are currently in the final stages of the 3rd wave, meaning that we can expect an ABC corrective pattern to follow. The targets in this ABC pattern come in to play at 5750, 5600 and 5400. I will actively look to build longs once again at those levels.

Best of luck all those positioning for the -10% correction in the sequence.

Trade active: LMT offers filled...
Comment: Eyes on BTC losing 6200 ...
Comment: We lost 6200 as expected:

Trade closed: stop reached

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