Hey guys, bitcoin doesnt let us get bored!
In previous Idea, where I drew WXY correction, BTC has started rise again.
Current local high price is 37600 - which is 78% fallback from local downtrend (In my pic)
So, is it just correction? Or price will get to 40+?
What do you think?
In one day the price falls and pullback, It looks like we have WXY Correction.
I made some pics of my expectations.
If price rises 37700 - It is not Short.
But for now, it looks like Short, because we are in Zig-Zag scheme. (W->X wave)
So, what it means?
My strategy using Binance chart ONLY.
Binance chart touched 200 SMA Day timeframe - strong short signal.
Because of strong Short signal - I drew 5 downtrend waves.
But CME does not touched!So, my arguments for short are destroyed.
Hey, before I had a problem with 4th - 5th waves.I didn't find solution, how to draw 5 sub waves(4H TimeFrame) in global 4th wave(D TimeFrame)
But then I draw a channel on Day TimeFrame. And Elliott looks perfect.So, If the price wont increase local higher price - - it means Short position for me. BINANCE:BTCUSDTPERP
Looks like we have 5 waves down, instead of ABC correction.
In this case, the price will be lower than 28k.
I am trying to find Long from my current position to setup 4th wave. Price should stop between 43-46k and after that goes to the 5th wave.
BTC / USDT depends from how BTC close 4h in close day.
Before closing left 4 hours, current price under line. It means bearish trends. But miracles could happen, and if day closed on or above line - bullish trends.
So, lets look how closing 4h bar, which is last for today. BINANCE:BTCUSDTPERP