#BTCCNY: Extended Target Reached, What Next? #Bitcoin
Traders,
UPDATE: Price moved extremely well since I posted this idea (See related ideas). Looks like price has extended to maximum target. Will this be the ideal time to profit take? We will soon find out.
Price has hit the measure target for the previous impulse leg, this might be an area where heavy profit taking begins to happen. But it could also not happen, allowing for more upside to hit the next extension move target. Keep an eye on this one for quick price changes, as Bitcoin is volatile at the best of times, let alone at a major impulse target. Tighten stop loss right up and make sure you aren't slipped out of the trade. I hope you have your own tested trading strategy to trade this move when it starts.
UPDATE: Price moved extremely well since I posted this idea (See related ideas). Looks like price has extended to maximum target. Will this be the ideal time to profit take? We will soon find out.
Price has hit the measure target for the previous impulse leg, this might be an area where heavy profit taking begins to happen. But it could also not happen, allowing for more upside to hit the next extension move target. Keep an eye on this one for quick price changes, as Bitcoin is volatile at the best of times, let alone at a major impulse target. Tighten stop loss right up and make sure you aren't slipped out of the trade. I hope you have your own tested trading strategy to trade this move when it starts.
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