Ready to make some profits
Looks like Bitcoin is either at or nearing it's bottom. A few days ago I laid out two options for this 5th wave down. Looks like it is likely we should see at least a temporary bullish move, all be it corrective, off this low in the 7200 area. Currently waiting for conformation to go long once btc breaks the downtrend line. I have already closed my trade from my entry at 7370 as this appears to me to be a 4th wave in the 5th but I could be wrong, just risk management.
You can see how btc has reacted to the downtrend channel and the 55 EMA and we are currently rejecting at the 55 EMA on the 15 min chart. We should know shortly and maybe we can finally see some short term relief from this downtrend.
As always these are just my ideas for my trades and not to be used as advice for your trades. Thanks for taking a look, any feedback is always welcome.
You can see how btc has reacted to the downtrend channel and the 55 EMA and we are currently rejecting at the 55 EMA on the 15 min chart. We should know shortly and maybe we can finally see some short term relief from this downtrend.
As always these are just my ideas for my trades and not to be used as advice for your trades. Thanks for taking a look, any feedback is always welcome.
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