Bitcoin is setting up for the next massive impulse.
We can see that we've had a number of impulses and corrections and now we're setting up for another impulse.
The correction we're in is a slightly more complex correction made up over 3-3-5. We're currently in the latter stages of the correction, the 5 waves. Expecting one more drop to the 50 fibonacci, which is also supported by structure and the major ascending trendline.
Trade idea:
- Watch for price to drop once more to the 50 fibonacci
- When we get a bounce, enter with stops below the rejected price
- Target the ATH's as first target and then -0.27 fib as second target and HODL the rest
You can take advantage of the short term move down but manage your risk.
Let us know your thoughts!
Goodluck!
We can see that we've had a number of impulses and corrections and now we're setting up for another impulse.
The correction we're in is a slightly more complex correction made up over 3-3-5. We're currently in the latter stages of the correction, the 5 waves. Expecting one more drop to the 50 fibonacci, which is also supported by structure and the major ascending trendline.
Trade idea:
- Watch for price to drop once more to the 50 fibonacci
- When we get a bounce, enter with stops below the rejected price
- Target the ATH's as first target and then -0.27 fib as second target and HODL the rest
You can take advantage of the short term move down but manage your risk.
Let us know your thoughts!
Goodluck!
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