Short

Bitcoin - Before the Bottom

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Chase the C leg of ongoing pullback. Its almost always a 5 wave count.

Exit at wave (4) : 11100...11750
Target for wave (5) : 8700

P.S. : Beware that rest of the exchange charts are a little lower than Kraken.

Note

Wave (4) completed as expected. Sleep in fiat.
Wave (5) will be studied again as wave (3) is over-swinged.

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Several unsuccessful attempts to break C leg. Its safe as long as H4 closes below 11832 (0.5 fib). Swing trade options start above that.

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Stall on pivot line. As leg (4) swinged higher to (0.382 fib) upcoming leg can be lower than mentioned above.

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Bulls are tired and unreliable. Risk/Reward is to high.

Note

TP @ 11650 --- Profit +1%

Too many resistances to tackle with, recent lower leg is damaged but still bearish.

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Bears won for this leg.

JanusQ

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