BTCUSD: Elliott Waves Intraday Trading
The price of bitcoin once again updated the local minimum.
I continue to consider 2 scenarios of development of the situation:
1) The price formed 3 impulses in a row to start a deep decline. The opening of a short position is relevant at the breakdown of the minimum of the last wave 1.
2) The price will continue to form a correction within wave 4, completing the expected wave C at about $25,000. It is possible to open a long position on a breakdown of the maximum of wave 1 as part of the presumed wave C.
Overall, the situation has become more complicated. Many structures were broken and at the moment I closed some long positions with a small loss and am watching the situation.
I plan to open any positions when the identification of good patterns of continuation of local trends.
Best Regards,
CEO Tornado Capital
I continue to consider 2 scenarios of development of the situation:
1) The price formed 3 impulses in a row to start a deep decline. The opening of a short position is relevant at the breakdown of the minimum of the last wave 1.
2) The price will continue to form a correction within wave 4, completing the expected wave C at about $25,000. It is possible to open a long position on a breakdown of the maximum of wave 1 as part of the presumed wave C.
Overall, the situation has become more complicated. Many structures were broken and at the moment I closed some long positions with a small loss and am watching the situation.
I plan to open any positions when the identification of good patterns of continuation of local trends.
Best Regards,
CEO Tornado Capital
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