PRO_Indicators

BTCUSD / H1 : Scenario Update : no triangle, but pbly a flat

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Follwing on from the previous idea which just got invalidated with the latest Sinewave Breakout, I had to come up with a new technical background.
The fact that we see the current wave as an impulse (12345 instead of ABC ) shows that we are probably making a flat correction which structure is 3-3-5 and corresponds to our present case !
That being said, it still remains a corrective structure and the most probable outcome still remains a second bearish impulse after completion of that flat.
Fibos are pulling a target area to look for possible short entries that I showed you on the chart. That's my new plan so far... so still being patient on bitcoin             ..

Hope this idea will inspire some of you !
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Kindly,
Phil
Trade active: Well.. perfect reaction in the anticipated zone. Now let's see how the market will react ;)
Comment: First partial Take profit to come soon. We triggered the potential krash... but we could work the 10-13K support area for a few hours-days ?
I see signals in 15m that suggest to take a little profits. I'll do it on the Sinewave Target : 9750$.
I take 1/3 profit size. So I remain heavy bearish and I'll of course use this cash to sell again the upper range zone if we go "rangy".
Comment: Nice trade ! Sold the top and took partial profit on the low ! Sold again at 13K... Will see what's coming next
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