NAVEDA_TRADING

BITCOIN--- ABC PATTERN ??? can we have wave c upside ?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
BITCOIN is consolidating in range from last 10 days ,marked in blue box

Looking at the chart,
The way I see it, BTCUSD has complete 1 move upside , marked as A , and now trading sideways at B corrective wave . hence we can have wave c upside ?
Price is below 200 EMA and 50 EMA
Stoch is at low Level
If it goes above consolidation zone (Highlighted blue ) ,it can continue on the short term bullish bias we are seeing with the recent breakouts to the upside.

But, if Bitcoin ( BTCUSD ) falls from here and close below these levels, it can start going down and test our next support levels .

Every impulse move upside/downside had been very fast and had taken short time .
These sideways are most difficult to trade , here many times , trades fall in traps , rather impulse wave is easier to trade , where every indicator helps .

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Comment: Congratulations , BTCUSD kissed Our Support 1 , and Trading 22% upside now , i hope you all made Profits ,Cheers .
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