Bitcoin / USDT

Bitcoin Looks Bearish (4H)

623
This analysis is an update of the analysis you see in the "Related publications" section

We identified an **ABCDE structure** in the previous analysis.

Currently, the structure remains the same, with only wave **E** appearing to be completed.

The price moved close to the **first target** from the previous analysis but was rejected. This rejection seems to mark the beginning of a new bearish wave.

Now, it is expected that either from this point or after a slight upward pullback, the price will enter a correction for **wave D** or another bearish wave.

For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.