Greetings all,
Trading Rule :
To call reversal after a massive correction (55% correction in our case),
you need to spot a massive reversal pattern on the current structure.
Massive reversal Pattern :
This pattern in our case is Inverse head and shoulders.
This pattern already breaks out, but we do not have confirmation of the break.
Also This pattern is followed up by a rising channel, containing 1,2,3,4,5 Elliot Waves.
I expect wave 2 more upside and wave 3 to retest the break before the main reversal
pattern to gives us the final target of 44k-45k.
Based on the above, I do not see bitcoin to return below a level of 35k - 36k any more.
GL
Trading Rule :
To call reversal after a massive correction (55% correction in our case),
you need to spot a massive reversal pattern on the current structure.
Massive reversal Pattern :
This pattern in our case is Inverse head and shoulders.
This pattern already breaks out, but we do not have confirmation of the break.
Also This pattern is followed up by a rising channel, containing 1,2,3,4,5 Elliot Waves.
I expect wave 2 more upside and wave 3 to retest the break before the main reversal
pattern to gives us the final target of 44k-45k.
Based on the above, I do not see bitcoin to return below a level of 35k - 36k any more.
GL
Trade closed: stop reached