Hello, everyone!
You know my opinion about the mid-term and long-term Bitcoin analysis. In the mid-term I am bullish. In the long-term – bearish. Today I wanna talk about the short-term analysis. I found super obvious situation on the market.
The BTC now started the 1-2-3-4-5 or the a-b-c local uptrend wave cycle. It does not matter because I want to catch only the wave 3 or c. Let’s consider the worst case that this s a-b-c cycle. The wave A was formed and after that we saw the correction to the Fibonacci golden pocket. The Bitcoin formed in the wave B subwaves a-b-c-d-e. I saw it multiple times. The price looks extremely bearish, this formation looks like the descending triangle, but I am sure it will be broken to the upside. The targets for the wave c are Fibonacci extension levels: 1 and 1.618, I marked them on the chart. We can use this trade with the stop-loss below the start of wave A.
Good luck!
