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
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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.