Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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Some I'm currently more inclined towards the theory of us being at the end of wave B. If this is the case, B has retraced almost exactly to around 0.618 of wave A and we should expect a Wave C to take us to the 3590 range. I've showed my play on the chart . This is a pickup from the analysis linked below
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Down $20 already. A clearer picture
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Divergence on 15 minutes RSI
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The B is perhaps now over, I expect a C wave down now
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So far so good. Was it the first wave down?
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I expect something like this to happen
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Ok, so while was focused on finding the ABC in the pattern, this was happening. I should always have alternative scenarios in mind
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I thought this is the top after spotting RS divergence, so entered a short aiming for 0.382
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The count is in, we did have a wave up but I was actually the final wave of the larger timeframe. Completing it and sending it down for the retracement. I was right to short but I was laying just the smaller structure