Bitcoin (BTCUSD): Correction Warning and Levels
Previously, we entered a long position as part of "buying the dip" strategy. The trade was marginally succesful, as it didn't reach the second target of $16 147:
Forecasting
This time we are looking to capitalize on the next leg of correction, which began on Dec 8. If this correction progresses (yet to be confirmed), it is likely to take the form of either Flat (3-3-5) or W-X-Y (3-3-3), and push the price down to $12 800 and below.
Trading
The trade setup is based on Andrews' pitchfork. Break below $14 000 will activate it and set the first target near $12 800.
Forecasting
This time we are looking to capitalize on the next leg of correction, which began on Dec 8. If this correction progresses (yet to be confirmed), it is likely to take the form of either Flat (3-3-5) or W-X-Y (3-3-3), and push the price down to $12 800 and below.
Trading
The trade setup is based on Andrews' pitchfork. Break below $14 000 will activate it and set the first target near $12 800.
Comment:
The selling intensifies. My BCHBTC alert has also been triggered. I may publish it soon here or @telegram.
Comment:
BTCUSD closed buy take-profit order near 12 800. As long as price stays within the Pitchfork, short-term downtrend remains intact, so watch it. New sells possible soon.
