Bitcoin -7.70% just completed a extended 3rd wave and hence poised for some correction.
A-wave -1.30% is in play , we will wait till B-wave is done and SHORT Bitcoin -7.70% for the C-Wave -1.66% . As seeing the volatile nature waiting for confirmation is a better way.
As the current top is very mechanical and magical (16666.66) retest is very much possible....
The structure is very interesting here.
This seems like an impulsive sub-wave 1, Now there are Three scenarios I am working with:
1-It may go down very fast down as flag is in making.(50%chance)
2-One test of the top then go Down.(25% chance)
3-Lastly It can break the top and just start running up..But it will give chance to enter there but at...
As we can see through price action that price is in correction
price also formed a flag pattern hence confirming the downward move.
strict stop loss at 169.
one should also see for some sport at the support zone which is quite strong.
Wait for the breakout to the downside before shorting.
Don't miss the dip to buy as well..
Great stock to keep in portfolio.
It will not go straight away to break the top, but that's the cheapest you might get 'infy'