BTCUSD MOVEMENT

This Crypto has finished its 5 wave move on the major monthly Timeframe. the downward move has also completed wave A and wave B of the 5 wave Correction and we are not trading at wave C. We expect wave C to be a 5 wave move downwards.

From the look at the structure, we have a five wave downwards giving us a wave 1. Afterwards, we can see wave A of 2 and wave B of 2 form. This is seen as an irregular flat and we therefore expect wave C of 2 to be a running flat. Looking at wave B of 2, it formed slightly outside wave and have formed 5 waves up giving us wave 1 of wave C of 2.

We shall be trading on the upward direction until we have a completion of wave C in its 5 wave formation before we can begin to short the market through wave 3 of C.

On the other hand, if the market closes beyond our invalidation zone, we shall look for alternatives to short the market because the instrument is in a general downtrend.

*Trading with Samuel*