Hello, everyone!
As you know I am in short position and I am sure that the new impulsive wave to the downside has been already started, but local picture told us that we can catch the pretty nice scalp long trade.
Let’s take a look at the 1h timeframe of the BTCUSDT chart of the WhiteBit exchange. I decided to consider the waves 1 and 2 as it is shown of the chart. In this case the wave 3 reached exactly 1.61 Fibonacci retracement level – the natural target. Awesome oscillator minimum value also confirmed my idea that wave 3 has been finished. Oscillator has also crossed the zero line which is the minimal requirement for the wave 4 end. It means the we have to catch the wave 5 bottom to trade the potential bounce.
Let’s wait for the divergence and the bullish reversal bar to enter the long trade. Watch out my updates I will tell you when I am going to execute this trade.
Best regards, Ivan
As you know I am in short position and I am sure that the new impulsive wave to the downside has been already started, but local picture told us that we can catch the pretty nice scalp long trade.
Let’s take a look at the 1h timeframe of the BTCUSDT chart of the WhiteBit exchange. I decided to consider the waves 1 and 2 as it is shown of the chart. In this case the wave 3 reached exactly 1.61 Fibonacci retracement level – the natural target. Awesome oscillator minimum value also confirmed my idea that wave 3 has been finished. Oscillator has also crossed the zero line which is the minimal requirement for the wave 4 end. It means the we have to catch the wave 5 bottom to trade the potential bounce.
Let’s wait for the divergence and the bullish reversal bar to enter the long trade. Watch out my updates I will tell you when I am going to execute this trade.
Best regards, Ivan
Trade active
The divergence is about to happen, wave 5 will be ended soon:Note
Internal wave structure shows us that the wave 5 has not been finished:
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Claim up to 600 USDT in welcome rewards & compete for a share of 5,000 USDT in BitMart Futures Contest!
➡ Register & Claim Bonus: bitmart.com/invite/VShg8M
➡ Join Contest: bitmart.com/futures-competition/Skyrexio/en-US
➡ Register & Claim Bonus: bitmart.com/invite/VShg8M
➡ Join Contest: bitmart.com/futures-competition/Skyrexio/en-US
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.