Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Potential entry level at 6200 with stop-loss at 5100. At the moment this looks slightly bear-ish, but after the completion of the last wave, I expect a break-out with very big momentum. For marking profit, use the green line as guidance.
Comment
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Should this follow the Wolfe Wave pattern, we're actually expecting wave 5 to go in the trading range outlined above, doing a fake breakout through the support.
Are there not two other waves between the 2 and 3 presented on your chart?
Either way trend is looking very, very bearish. But if I'm seeing those other waves correctly, could help determine a move for the 5th.
Ankly
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@skychall, Sorry for the late reply, could you post a chart with the way you see the waves? Would love to take a look.
Either way trend is looking very, very bearish. But if I'm seeing those other waves correctly, could help determine a move for the 5th.