Hello, everyone!
Today I am going to show you very interesting short trade setup becuase as I said in my previous analysis the dump is not over. Let’s go!
Let’s take a look at the 1h time frame of the BTCUSDT chart of the WhiteBit exchange. At $15500 the wave 3 have been ended and after the market showed us the wave 4 which was represented as the zigzag correction. Now Bitcoin is showing us the wave 5. I suppose that wave 1 have been already ended and wave 2 also is about to it’s end. Wave 2 looks like the triangle correction which have reached it’s original target at 0.38 Fibonacci retracement.
I decided to open short trade with the target approximately at $14500 – 1.61 Fibonacci extension level. This is the anticipated target for the local wave 3.
Best regards, Ivan
Today I am going to show you very interesting short trade setup becuase as I said in my previous analysis the dump is not over. Let’s go!
Let’s take a look at the 1h time frame of the BTCUSDT chart of the WhiteBit exchange. At $15500 the wave 3 have been ended and after the market showed us the wave 4 which was represented as the zigzag correction. Now Bitcoin is showing us the wave 5. I suppose that wave 1 have been already ended and wave 2 also is about to it’s end. Wave 2 looks like the triangle correction which have reached it’s original target at 0.38 Fibonacci retracement.
I decided to open short trade with the target approximately at $14500 – 1.61 Fibonacci extension level. This is the anticipated target for the local wave 3.
Best regards, Ivan
Trade closed: stop reached
Decided to close the trade in zero-loss. The another wave formation is about to happen. Will explain later.
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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.
Access private PineScript strategies and turn alerts into orders with easy-to-set up bots
Trade smarter with:
skyrexio.com
Trade smarter with:
skyrexio.com
Related publications
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.