BTC - short term bullish, medium term bearish
It looks as if we are still in wave III of a larger downtrend.
There is a possible short term bullishness towards 232-240. If we reach nearer >235 it could mean a short wave III, followed by a shorter wave V to 210-200 area.
If we hit <233 ish before continuing down we could be into wave (3) of the larger wave III, which would end around 160.
This may be a very quick process, as a breach of 212 could cause a panic sell-off.
A break of 240 would mean a re-assessment.
These are just my ideas and I don't claim to be an expert (far from it, quite a newbie), so please do not take them as given for trading purposes. I am happy to receive constructive feedback though.
p.s. please ignore the position of V, this is not literal and should be lower.
There is a possible short term bullishness towards 232-240. If we reach nearer >235 it could mean a short wave III, followed by a shorter wave V to 210-200 area.
If we hit <233 ish before continuing down we could be into wave (3) of the larger wave III, which would end around 160.
This may be a very quick process, as a breach of 212 could cause a panic sell-off.
A break of 240 would mean a re-assessment.
These are just my ideas and I don't claim to be an expert (far from it, quite a newbie), so please do not take them as given for trading purposes. I am happy to receive constructive feedback though.
p.s. please ignore the position of V, this is not literal and should be lower.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.