Bitcoin Elliot wave analysis - short bitcoin with target 37K
I Think BTC is in a C wave of a corrective wave with a target around 37150 $.
The first corrective wave consisted of a 5 subwaves. then the B wave had 3 subwaves , and now its in the start of the 3rd wave of a 5 wave C wave , which its drop will be sharp again.
the stop for this sell will be in case that price goes above B of 52000 again.
current price is around 48k
so the reward/risk ratio is 11000/4000 around 2.5:1 which seems fine.
take care with long position guys...
The first corrective wave consisted of a 5 subwaves. then the B wave had 3 subwaves , and now its in the start of the 3rd wave of a 5 wave C wave , which its drop will be sharp again.
the stop for this sell will be in case that price goes above B of 52000 again.
current price is around 48k
so the reward/risk ratio is 11000/4000 around 2.5:1 which seems fine.
take care with long position guys...