BTC Completed Impulse Waves + Potential Short entry

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Hey friends!

If you haven't already - you should be looking to take profits here! Also looking for a potential short entry in this area. We have potentially 5th Elliott Wave + supply zone and some divergences going on!

Good luck!
Trade active: Short entry 3815 (Mex)
Observing with mental SL
Trade closed manually: Manual close 3830. Keep observing.
Comment: Parabolic advance on V wave broken. Should start looking for a short entry.
Comment: Quick update on the situation. The Wave count above is obviously not valid anymore and here is a new count.
Looking for a fifth wave upwards into 3500 area and observing for a short entry.
Comment: Wave IV correction - V wave into supply area


maybe your EW counting is wrong. wave 3 consists of 3 subwaves -> this would suggest to define your 1 at 3585.
+1 Reply
breitdom TradingForLols
@TradingForLols, thank you! I agree with you about looking for a short entry