weslad

Bitcoin approaches Danger Zone

Short
BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello friend,

If we remember from our last analysis, we talk about potential sell off zone for Bitcoin , price is finally here and all attention shifted to the zone.

What come to my mind is potential AB=CD pattern type of correction.

The major reason I choose this correction type is because of its simplicity in applying stop loss. Looking on bigger timeframe shows a potential top to be in on BTC , check this 3days candle chart, it look scary, although it also gave good room for tight stop loss application.

The whole idea is well shown on the chart a BREAK above our leg A invalidated the whole idea.

I will advice not to hold to short when this PATTERN Fail. Get out and wait for re-test to join the BULL.

Let see this as my quick market update and always do your own personal research before taking any trading decision based on my view.

Thanks for reading and staying with us.

I will appreciate your kind support with Likes and do remember to follow us for all possible latest market updates.

Trade active: Market is in developmental stage, let see how we close present 8hours candle.

Trade active: First sign of weakness show as price breakdown the pennant down

Trade active
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Comments

We remember very well and watching very closely what is going on. Thanks for the update, Weslad, and keep updating according to the market situation. You're the best.
+3 Reply
@skd1, thank you so much my friend, I appreciate all the supports
Reply
Hello. It's good to see an update. Thanks.
+2 Reply
weslad gadavire
@gadavire, you are welcome, I prefer giving the update as the market required instead of posting btc analysis everyday for likes.
Reply
thanks for share bro
+1 Reply
weslad soonnokta
@soonnokta, I appreciate your love thanks
+1 Reply
Another possible scenario would be to start ABC correction from end of you 3rd waves (III) => Extended flat correction.
Indeed your wave III can be divided into 2 impulses waves.
It brings me agree with you and recommend wait lower entry
+1 Reply
weslad JrmyFq
@JrmyFq, I accept this your view, yes let see what happen before monday
Reply
thanks dear WESLAD <3
+1 Reply
weslad miladiran11
@miladiran11, you are welcome
Reply
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