BTC/USDT (4H) Still bullish but be carefull ;)
Hello Guys,
Today I tryied to make some EW Count based on last price spike. We retested quite strong resistance area of 9200 twice. I se it as possible wave (iii) of 5. (Also possible to make a count as (i) of 5, In case that 5 will be extendd).
Wave 3 was almost 2x heigth of wave 1. So thats why I marked 9200 actual top as (iii) of 5. In this case Wave 5 could reach next VERY strong resistance of 10K. (9850-10300)
I will update you as pricBe patient and keep Stop-loss prepared (If posible set Stop-loss and Take profit targets at the same time).
Good luck ;)
Today I tryied to make some EW Count based on last price spike. We retested quite strong resistance area of 9200 twice. I se it as possible wave (iii) of 5. (Also possible to make a count as (i) of 5, In case that 5 will be extendd).
Wave 3 was almost 2x heigth of wave 1. So thats why I marked 9200 actual top as (iii) of 5. In this case Wave 5 could reach next VERY strong resistance of 10K. (9850-10300)
I will update you as pricBe patient and keep Stop-loss prepared (If posible set Stop-loss and Take profit targets at the same time).
Good luck ;)
Trade closed manually:
Hi Guys,
Hopefully you had good week and enjoyed entire Ride from 8.4K :)
Righ now BTC looks quite undecided where to go. I am looking closely to behaviour of classic retail investors (to do opposite :D ).
Actual price action could be marked as expanding Pennant / Triangel. It means market forces are balanced.
Its pretty hard even for scalping. (1,5% Up-Down Area)
So for next Entry I will watch bottom line (around 9200) for another scalp and possible continuation of impulse wave Up. BUT with very tight stop-loss.
So consider if you can watch it on small TF ( 1-3- 5 min and count subwaves ).
Or if you are more conservative trader. Take profit and wait for confirmation a.k.a break of one of lines and confirmation bounce from outside.
Good luck.
Hopefully you had good week and enjoyed entire Ride from 8.4K :)
Righ now BTC looks quite undecided where to go. I am looking closely to behaviour of classic retail investors (to do opposite :D ).
Actual price action could be marked as expanding Pennant / Triangel. It means market forces are balanced.
Its pretty hard even for scalping. (1,5% Up-Down Area)
So for next Entry I will watch bottom line (around 9200) for another scalp and possible continuation of impulse wave Up. BUT with very tight stop-loss.
So consider if you can watch it on small TF ( 1-3- 5 min and count subwaves ).
Or if you are more conservative trader. Take profit and wait for confirmation a.k.a break of one of lines and confirmation bounce from outside.
Good luck.
