Simple 4th wave correction Buy opportunity incoming.
Updated
We can see Bitcoin has ended its wave 3 correction and is now in wave 4.
Key points:
Wave 2 was complex so wave 4 should be simple
I have highlighted what we should see in this correction. Very simple ABC correction inside an ABC correction
Assuming this happens I will be making a trade in the highlighted area with a sell target around the $8300 area depending on the strength of the C wave it may go higher.
Stop just below previous low. Risk:Reward of 6:1 with potential yield of 6.4%
As always i'm still new to trading so this is just ideas for my trades and not to be used for your own trade strategies. Thanks for looking any feedback is always appreciated.
Key points:
Wave 2 was complex so wave 4 should be simple
I have highlighted what we should see in this correction. Very simple ABC correction inside an ABC correction
Assuming this happens I will be making a trade in the highlighted area with a sell target around the $8300 area depending on the strength of the C wave it may go higher.
Stop just below previous low. Risk:Reward of 6:1 with potential yield of 6.4%
As always i'm still new to trading so this is just ideas for my trades and not to be used for your own trade strategies. Thanks for looking any feedback is always appreciated.
Note
Note
This was the style of 4th wave correction I was looking for but we did not get a deep C wave down. So I move on to the next trade. Should see the break down of our current 4th wave over night. Lets see how far the 5th wave goes.
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