BITMEX:XBT   Bitcoin / US Dollar Index
hello guys, from the charts most likely Bitcoin has now entered in ABC correction wave, in which wave A usually made of 5 waves and most likely we're now heading towards much deeper correction of wave 3 which could bring us to 6200 level, but at present situation we're in a leading diagonal formation, so from here we could see a drop towards 7400, and then a false breakout could take place to push the prices around 8000, and then huge shorts could take place to rekt longs, so i would recommend to go short from here until we hit the lower trend line , and be cautious with longs. we could grab wave 3 which can give us massive profit opportunity, but we must play safe, i would recommend to stay neutral until we break the 7200 level.
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