Bitcoin short term trade : August

Hello guys,

We have started an impulse wave downwards following Elliot Wave theory. Stop loss has been activated at 7250 with minimal loss. We can trade this short for the few days.

I project a small and fast dump, with probably an ETF bullish fundamental news. So we'll take this opportunity to short, increase our positions at the CORRECT timing.


Instructions:

Buy at 6700, long the bounce to 7300-7400,re short it towards 6000.

We'll see from there what happens.
I'm yours truly, and will update on a daily basis. For the alts, the scenario remains the same ( refer to my other chart )

Comment:

There seems to be another scenario at play, a channel forming, and people claiming this is the bot. I don't think so personally, I still believe we'll go down. 40 billion dollars got taken out of the market in one day. Someone knows something we dont, so thread carefully, and don't get suckered.

We trade the market, not feelings

Comment:

This is what I call, bad buying from investors.
2 scenarios are possible, and we have 0 information confirming both. Massive red wick just before that. This has the characteristics of a bear flag.

Don't be that guy, wait for confirmation before making any move

Comment:

The sell off has been for more drastic than I anticipated. We can expect further sell off after a weekend cooldown

Comment:

My previous fibonacci lines were not correctly used by the bots :
This is the correct version, as people did not take the all time low, but the one just above it for some reason...