This is a series of posts giving analysis on BITCOIN check the previous one on the Related Ideas to see the logic that we are using and how our vision works.
Main Items we can see on the Daily Chart:
a)The price broke a Falling Wedge (continuation Structure)
b)Currently, we saw the first Throwback towards the broken trendline as we were expecting. BUT we think the full corrective structure is not ready yet and that we are on a B wave, and we have to wait for a final C to be cautious.
c)Remember: By waiting for a C wave, we take the risk of losing the Long opportunity we are looking for. Still, we don't have any interest in open positions on Instruments that do not have the full confirmations we defined at the beginning.
d)Remember: Our Long term view is LONG for Bitcoin. We have the broken Falling Wedge and a potential motive wave coming towards the Daily Target at 13.000
e)For this type of trade, we will only open it with a Final C wave. We will make an update on this as the price goes as expected
If you have any type of doubt related to the current analysis or you're are planning to open positions on BITCOIN and you want extra opinions. Feel free to share it on the comments so we can have good feedback!
Main Items we can see on the Daily Chart:
a)The price broke a Falling Wedge (continuation Structure)
b)Currently, we saw the first Throwback towards the broken trendline as we were expecting. BUT we think the full corrective structure is not ready yet and that we are on a B wave, and we have to wait for a final C to be cautious.
c)Remember: By waiting for a C wave, we take the risk of losing the Long opportunity we are looking for. Still, we don't have any interest in open positions on Instruments that do not have the full confirmations we defined at the beginning.
d)Remember: Our Long term view is LONG for Bitcoin. We have the broken Falling Wedge and a potential motive wave coming towards the Daily Target at 13.000
e)For this type of trade, we will only open it with a Final C wave. We will make an update on this as the price goes as expected
If you have any type of doubt related to the current analysis or you're are planning to open positions on BITCOIN and you want extra opinions. Feel free to share it on the comments so we can have good feedback!
