👻 TRADING ANALYSIS [BTC]: Bitcoin heading for a massive correction !
Hello Guys!
Quick follow-up on Bitcoin Price Action. If you missed previous analysis you can find them there:
- Part 1: https://steemit.com/cryptocurrency/@tatchcapital/trading-analysis-btc-a-complete-recap-on-bitcoin-current-pricing-and-were-it-will-go
- Part 2: https://steemit.com/bitcoin/@tatchcapital/trading-analysis-btc-follow-up-on-today-price-action
- Part 3: https://steemit.com/bitcoin/@tatchcapital/trading-analysis-btc-measured-move-right-on-the-money
- Part 4: https://steemit.com/bitcoin/@tatchcapital/trading-analysis-btc-quick-intraday-follow-up-on-bitcoin-price-action-d
1) Pattern in a pattern: Bitcoinception
Sometimes price makes a pattern within a pattern ('mise en abyme') those tend to improve your trading odds.
Remember this chart ?
This is price now:
2) Focus on H1
Price failed to provide lower lows after the pullback (bottom of the orange rectangle). Making price go back in the large upper range (white rectangle)
At the same time you have your wave count indicating we are reaching exhaustion on this 'short-term' timeframe too... Bitcoinception ^^
You should monitor price closely has it could overshoot/undershoot the doted blue area while doing its reversal.
3) Some trades ideas:
Undershoot:
- Entry 7600$ - SL 7900$ - TP 4800$ => RR: 10.34
Overshoot:
- Entry 8100$ - SL 8400$ - TP 4800$ => RR: 11.00
Don't hesitate to join us, ask questions in comment section, etc
Much love and be safe out there is going to be SAVAGE
Cédric
Tatch Capital Limited
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