This count on the daily has potential to firm up. There is almost always a test of the most recent swing low so, the pull back here on the 3-hour is a reasonable entry with the stop just below the pivot. I'd keep the size moderate as the count is unstable at this point. But I like this kind of trade, as the risk is low and there is a very specific target above. I do not expect this to be a long term trade. I'd be looking to take profit at the channel edge when we get to the 50-61.8% resistance above...
love you man! i know i am not the only one that is not bearish
btc 2485 and drop ? and if he break the trend line we going up right?
tradedevil
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@DanielBela, Hi there, thanks for the kind words. I think it's going to be a challenge for BTC to get too far beyond $2,500 area until after we get through the Aug 1st scaling resolution. My guess is lot's of short swings followed by retracements. Like we're seeing now. Keep the stops in place because pivots seem to be getting pushed overnight via the Asian market.
btc 2485 and drop ? and if he break the trend line we going up right?