This is Elliott Wave Analysis that shows a potential long trade opportunity.
If Bitcoin breaks down sharply, do not take this trade, as the price will likely drop much further than shown in the image.
If the parallel trend channel holds, this could be a good trade. If you do take this, be ready to cut the trade if the market drops further than expected. It is best to not enter with a limit order, but manually enter using a market order if the market seems to hold within the green triangle buy zone shown in the image.
Entry: Between 0.4073 and 0.4000
Exit: 0.4337: profit target 1, 0.4581: profit target 2
Stop loss: 0.3792
Disclaimer: Not financial advice - intended for educational purposes only
If Bitcoin breaks down sharply, do not take this trade, as the price will likely drop much further than shown in the image.
If the parallel trend channel holds, this could be a good trade. If you do take this, be ready to cut the trade if the market drops further than expected. It is best to not enter with a limit order, but manually enter using a market order if the market seems to hold within the green triangle buy zone shown in the image.
Entry: Between 0.4073 and 0.4000
Exit: 0.4337: profit target 1, 0.4581: profit target 2
Stop loss: 0.3792
Disclaimer: Not financial advice - intended for educational purposes only