After a massive correction, it has reverted it´s down trend, in the short term at least. I made a nice trade from the 13800 to the 19000 and now im looking to buy back between 17200-16200 where is the double top and wave C projection.
This will get invalidated if the B wave gets extended.
What are your toughts?
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So far the EMA200 has been holding the price quite well, i´m still waiting my reentry point. We have a bearish divergence from the top of wave 3 to the top of wave 5 that still hasn´t played.
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Another thing that can happen is it to go sideways to meet the uptrend line and make a continuation of that wave 5, what would invalidate the double top and the EW counting.
In the daily chart we see tenkan sen about to cross kijun sen what can make this second scenario to happen. Resistance at EMA50 on the daily around 20000 satoshis.
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Buy zone reached.
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Closed this operation with a bit of profit from that bounce from inside my buy zone. Remember, always use risk management, trailling stop or at least put the stop at you break even after price rise. That way you make sure you will no lose any money or even lock little profit.