The picture shows clear five waves in two degree of trend. For that reason I partially sold out 2/3 of my BTC exposition. The pink elipse envelopes five waves down and abc up followed by the the yellow elipse where we see a smaller fegree five waves down. Right now the price is making an up correction that can unfold several hours. This set up used to bring bearish consequences. A break down below 410 will confirm this scenario and if this happens we will expect a break below 407 and likely below 392. Only if I see clear buy signals around the psychlogical level of 400 I will start buying again. The main reason to trust the scenario with break down of 392 support line is that the up move enveloped in blue elipse is lookig like three waves which is corrective as expectations.
Kommentera:
It took 5 days for the bearish scenario to start, but it is still at hand.