[08/10] Beast Trading _ Today's Bitcoin Perspective
Beast Trading _ Today's Bitcoin Perspective
Bitcoin has been showing a strong trend since August 8.
That's why I don't think it's good to trade with the mindset that "Bitcoin has risen this much, so I'm going to take a short position" and "Bitcoin has fallen this much, so I'm going to take a long position."
First of all, after the strong rise in B-c accompanied by the volume of transactions I've suggested two days ago, we're going exactly according to Elliott's view that there's a stronger C-wave decline with the volume of transactions, and it's now in a very important section.
This is the bottom line of Bitcoin's one-hour parallel channel, which I emphasized before, and it is a very supportive position at the level of one salary.
And as it has a strong meaning, it has shown a weak rebound by supporting it at the bottom line despite its strong decline.
I think there will be a little change in the big view depending on whether there will be a further rebound or a break from this position
First, there is a high chance that the rebound will not come out properly here, and if you break the bottom line, you will go according to the previously raised point of view. There's a lot of possibility of a further plunge.
Second, if there is a rebound here, it is likely that the B wave, which is newly raised today, will converge for a long time.
It's a perspective that keeps moving up and down in the form of a triangulation and rising at the end of the convergence.
Considering the current four-hour stoic, it is located at the bottom line, so even a slight rebound is expected to give a little boost to the rise.
+ The purple trend line at the top is the bearish trend line from 32k.
Bitcoin has been showing a strong trend since August 8.
That's why I don't think it's good to trade with the mindset that "Bitcoin has risen this much, so I'm going to take a short position" and "Bitcoin has fallen this much, so I'm going to take a long position."
First of all, after the strong rise in B-c accompanied by the volume of transactions I've suggested two days ago, we're going exactly according to Elliott's view that there's a stronger C-wave decline with the volume of transactions, and it's now in a very important section.
This is the bottom line of Bitcoin's one-hour parallel channel, which I emphasized before, and it is a very supportive position at the level of one salary.
And as it has a strong meaning, it has shown a weak rebound by supporting it at the bottom line despite its strong decline.
I think there will be a little change in the big view depending on whether there will be a further rebound or a break from this position
First, there is a high chance that the rebound will not come out properly here, and if you break the bottom line, you will go according to the previously raised point of view. There's a lot of possibility of a further plunge.
Second, if there is a rebound here, it is likely that the B wave, which is newly raised today, will converge for a long time.
It's a perspective that keeps moving up and down in the form of a triangulation and rising at the end of the convergence.
Considering the current four-hour stoic, it is located at the bottom line, so even a slight rebound is expected to give a little boost to the rise.
+ The purple trend line at the top is the bearish trend line from 32k.