BITCOIN (BTCUSD) - Primary ABC Correction in play
BITCOIN's Daily Wave Count suggests that the Crytocurrency is trading within a Primary ABC (red) Correction which is expected to finalize quite soon.
The Primary ABC Correction (red) is showing a potential Head & Shoulders Formation and a Bearish Divergence which is indication that BITCOIN could have more room on the down-side before the Up-Trend would continue.
Forecast:
- Short-Term: Bullish
- Medium-Term: Bearish
- Long-Term: Bullish
Levels in Focus:
1 - 4500
2 - 3200 or 2600
3 - 6200
BITCOIN (BTCUSD) - Positions:
Short Term - BUY
Entry Level - 3750.00
SL - 3000.00
TP - 4500.00
Medium-Term - SELL
Entry Level - 4500.00
SL - 5000.00
TP - 2600.00
Long-Term - BUY
Entry Level - 3200.00
SL - 2400.00
TP - 6000.00
Safety Measures:
When in the green, moving SL to break-even or in profit.
If Conservative, waiting for the Head & Shoulders confirmation along with the Bearish Divergence.
Many pips ahead!
BITCOIN's Daily Wave Count suggests that the Crytocurrency is trading within a Primary ABC (red) Correction which is expected to finalize quite soon.
The Primary ABC Correction (red) is showing a potential Head & Shoulders Formation and a Bearish Divergence which is indication that BITCOIN could have more room on the down-side before the Up-Trend would continue.
Forecast:
- Short-Term: Bullish
- Medium-Term: Bearish
- Long-Term: Bullish
Levels in Focus:
1 - 4500
2 - 3200 or 2600
3 - 6200
BITCOIN (BTCUSD) - Positions:
Short Term - BUY
Entry Level - 3750.00
SL - 3000.00
TP - 4500.00
Medium-Term - SELL
Entry Level - 4500.00
SL - 5000.00
TP - 2600.00
Long-Term - BUY
Entry Level - 3200.00
SL - 2400.00
TP - 6000.00
Safety Measures:
When in the green, moving SL to break-even or in profit.
If Conservative, waiting for the Head & Shoulders confirmation along with the Bearish Divergence.
Many pips ahead!
