ביטקויןלונג
Will we see further correction before targeting 9400
מעודכן
It would appear that BTC has completed it's 3rd wave and is in it's correction phase. Depending on how I count this it is possible that we have already made an ABC correction into our fourth wave but my current count I'm trading off of is the count I have displayed. A wave to 8750.
As I played this out yesterday I had hoped we could see BTC complete wave 3 to the 8250 area 1:1 of wave 1. But we failed to reach that target so I'm removing 9,800 from my 5th wave target list (Daily resistance).
If we do see continued correction I have a target with 3 points of confluence. 8650 is the .5 retracement, nearest support zone, and the 4hr 55 EMA support. This would be a very likely point for reversal and where I will be adding to my position. I will be targeting 9450 as this is the 4hr 200 EMA resistance, prior resistance area, and $40 shy of the length of wave 3 assuming we reach 8650 since wave 1 is now our longest wave.
As always, these are my ideas for my trades and are not intended as advise on how to trade. Thanks for taking a look, any feedback is always welcome.
As I played this out yesterday I had hoped we could see BTC complete wave 3 to the 8250 area 1:1 of wave 1. But we failed to reach that target so I'm removing 9,800 from my 5th wave target list (Daily resistance).
If we do see continued correction I have a target with 3 points of confluence. 8650 is the .5 retracement, nearest support zone, and the 4hr 55 EMA support. This would be a very likely point for reversal and where I will be adding to my position. I will be targeting 9450 as this is the 4hr 200 EMA resistance, prior resistance area, and $40 shy of the length of wave 3 assuming we reach 8650 since wave 1 is now our longest wave.
As always, these are my ideas for my trades and are not intended as advise on how to trade. Thanks for taking a look, any feedback is always welcome.
הערה
BTC is feeling the squeeze between the EMA's and the trendline something has to give soon. Lets see which way it goes
הערה
It would appear my alternative count may be in play this morning. We may see further correction off this low at 8630. The EMA resistance didn't bounce the price as I would have liked to seen and btc is struggling to break the 8700 level. I have set a target for partial profit at the 8820 level as this may be an area for reversal. I am continuing to see signs of bearish activity.
הערה
This downtrend line is what is leading me to this conclusion. BTC has struggled with this line for a while now. You can see in the 15 min chart above this one how BTC failed to break this line 3 times before down trending. This is coupled with the fact that what I had originally labeled as a B wave seems to be too long and is probably the fifth wave of 3 that failed at the downtrend line.
הערה
Looking for next support zone around the 8360 - 8240 zone. Previous resistance and .5 retracement.
הערה
הערה
A wave is in. B wave target 8750. Then looking for a reversal into C wave with possible targets around .618 at 8000 but we shall see. I will be playing this trade with bearish bias as I believe continued correction below the previous low of 7200 is likely.
עסקה סגורה: היעד הושג
Target reached, now lets see where it goes from here. Lets see if my count is right or if I need to back to the chart again. Journey of new trader, just telling myself not to FOMO just sell at your target and if you're wrong you can find re-entry later. Don't know what a lot of you do to handle that but I try to be as much of a robot as possible when I'm in a trade. I'm sure it gets better with time.
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