The 5-wave count is still technically valid as we came very close but did not breach the wave-1 high... While this is not the prettiest count I've ever seen. It's definitely trade-able. Reasonable risk reward with a stop just below the wave-4 low. It could run. I like it. Risk reward to the upper targets of 5-to-1 but there's going to need to be a big push at that wall of resistance. Oscillator may offer some clues along the way. First hurdle is the to break above the zero line. I'm in but with a smaller position than usual. There will be places to add if we see a clear 5 wave structure in this 5th wave.
Комментарии
f-73
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Nice work, tradedevil. I'm enjoying your charts and appreciate your clarity.
A couple guys i follow proposed a somewhat similar view (albeit through different approaches):
Looking forward to development.
nakov
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Always appreciate your comments, devil! :) You are one of the most knowledgeable guys around, and I read all BTCUSD and most crypto ideas here.
Definitely strong resistance until $2800, then it should be easier for the new ATH attack.
tradedevil
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@nakov, Hi there nakov, I appreciate the kind words. Glad you're finding value. I'm long and strong on this move. The farther we get from that last pivot the better the trade looks. And I agree, if we can get through the brick wall at $2,800... 3K will be a magnet...
nakov
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@tradedevil, I have the feeling that next week we will say in retrospect that $2700 was way more difficult to overcome 2 days ago compared to $2800 resistance level. Segwit2x consent and India legalization news helped so much in the right time break that $2700 wall. Timing is everything.
f-73
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@nakov,
i fear way 2755-2775$ area more than 2800$.
nakov
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@ft-73, Yeah, $2750 resistance zone up till $2800 wall.
A couple guys i follow proposed a somewhat similar view (albeit through different approaches):
Looking forward to development.