BTC ending impulse move and short entry
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Thank for viewing,
Just a quick one to note that the present impulse move seems to be drawing to a close. The red box represents the area where I will be exiting - I don't imagine much will be left on the table.
I didn't go long on BTC but went long on ADA, ETH, and XRP a few days ago, and managed to nab most of this move (so far). But, when big daddy BTC corrects, so will everything else.
Don't call me a bear, bears don't go long. This isn't FUD. After exiting, I will be looking for a new entry point as I believe the impulse move (from $3200 to present) may only be the first move of a strong wave C correction that will retrace a significant portion of the price drop since mid November. While this bounce is good to see, I would expect bigger bounce is called for as the shorts get liquidated. I am not shorting BTC - except in a paper trade on Think or Swim (the re box will be my short order laddering zone).
Preserve those funds and enjoy.
Just a quick one to note that the present impulse move seems to be drawing to a close. The red box represents the area where I will be exiting - I don't imagine much will be left on the table.
I didn't go long on BTC but went long on ADA, ETH, and XRP a few days ago, and managed to nab most of this move (so far). But, when big daddy BTC corrects, so will everything else.
Don't call me a bear, bears don't go long. This isn't FUD. After exiting, I will be looking for a new entry point as I believe the impulse move (from $3200 to present) may only be the first move of a strong wave C correction that will retrace a significant portion of the price drop since mid November. While this bounce is good to see, I would expect bigger bounce is called for as the shorts get liquidated. I am not shorting BTC - except in a paper trade on Think or Swim (the re box will be my short order laddering zone).
Preserve those funds and enjoy.
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