BTC on a Possible Zigzag Correction

2 mar 2021

FOMO on Bitcoin has passed already after making an ATH after breaching the highs of 2017.
Euphoria started when we see Elon Musk started to update his Tweet to Bitcoin and Tesla buying the crypto.

I'm short-term bearish for now that it will retrace around 35-36K Level. If my EW count is correct, we are now at the B Wave of a Zig Zag Correction.

I'm looking to short it on the end of B Wave. Keep tabs.

3 mar 2021

Zlecenie aktywne

Went long on the 47.2K level. TP near the 1.618 Fib or around 52K Level.

3 mar 2021

Uwaga

Partially close my position as there is no breather. I was expecting a slight pullback before reaching the 0.618 fibs.

I'll close my position if there a break of trend.

I'm now waiting for a lower low to set-up my short. Expecting that Wave 1 of C would unfold by early next week.

3 mar 2021

Uwaga

What I mean is lower high. Not lower low. Just close long my position as it bounces off the 0.618 fib.

I'm gonna try to set it up now for a short position.

4 mar 2021

Uwaga

Starting to trend on a downward channel. I'd like to see a clear lower high to place my short position.

5 mar 2021

Uwaga

I may need to revisit my count. Doesn't doing what I expected. Price continues to trend downward without forming a lower high.

8 mar 2021

Uwaga

Placed a short position on Wave 2 of Terminal Wave C of Zigzag.

9 mar 2021

Zlecenie zamknięto ręcznie

Will revisit my count. Not working as I expected.

19 maj 2021

Uwaga

the idea is correct but it was way way too early.. pfftt...