BTC is bounced from the 6840 support and it looks like it is forming Elliott impulse wave structure.
By applying Elliott wave theory and Fibonacci levels, this may be one of the possible scenarios.
Mind that blue slopes resistance because it's an old and strong zone, so BTC may just fall back from there.
But if BTC breaks it in my opinion that would be the perfect time to enter a long position for the upcoming bull run.
On the flip side if BTC can't break it and fall back then it's trapped in a descending triangle which is a bearish sign.
Happy Hunting guys - to the mooooooon
Note : This is not a financial advice
By applying Elliott wave theory and Fibonacci levels, this may be one of the possible scenarios.
Mind that blue slopes resistance because it's an old and strong zone, so BTC may just fall back from there.
But if BTC breaks it in my opinion that would be the perfect time to enter a long position for the upcoming bull run.
On the flip side if BTC can't break it and fall back then it's trapped in a descending triangle which is a bearish sign.
Happy Hunting guys - to the mooooooon
Note : This is not a financial advice
Trade closed: stop reached:
That's why I was saying again and again and again "do not enter a long until and unless you see clear reversal signs"
Now there are experienced traders crying all over Twitter about how they lost their money.
Now there are experienced traders crying all over Twitter about how they lost their money.