Preparing for BTC next wave down

5 окт. 2021 г.

BTC has retested the highs of its preceding trendline with low volume and little conviction. The charts seem to say that we are likely arriving at the end of the second decending elliot wave pattern with perfect retracement of fibonacci retracement level of 78.6% since last low.

I would be careful with btc price movement as of now as long as the coin does not cross with higher volume the 53k - 54k area.

Short around 49.5k - 50.5k
Stoploss at 53.2k
Target profit: 45k, 41k, 38.2k, 34k