From 5,780.00 low, preferred view is bitcon is in a motive 5 waves and from current levels as per chart 4th wave is in place. From there, we should see a marginal new high with RSI divergence confirmed in the 4h time frame.
Failure to move higher could result in a deeper correction of the all move from 5,780.00. I don't like to buy here, or to sell and would prefer wait for the cycle from 5,780.00 to be completed as a motive 5 waves and buy green 2 lower.
Failure to move higher could result in a deeper correction of the all move from 5,780.00. I don't like to buy here, or to sell and would prefer wait for the cycle from 5,780.00 to be completed as a motive 5 waves and buy green 2 lower.
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1H ASIA UPDATE - 25/07/2018
This is in those situations where we need to stay calm and stay disciplined to our system. Bitcoin is now a buy in any pullback in the form of a clear 3, 7 or 11 swings. Do not try to fade this move, the right side of the market is to buy, and buy the right level. For now, I don't have position in BTCUSD because there was no setup and even if we are 20% from the lows, IT DOES NOT MATTER because we are here for the long run. We should be in BCHUSD and it is doing great.
This is in those situations where we need to stay calm and stay disciplined to our system. Bitcoin is now a buy in any pullback in the form of a clear 3, 7 or 11 swings. Do not try to fade this move, the right side of the market is to buy, and buy the right level. For now, I don't have position in BTCUSD because there was no setup and even if we are 20% from the lows, IT DOES NOT MATTER because we are here for the long run. We should be in BCHUSD and it is doing great.
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1H ASIA UPDATE - 26/07/2018
for now, while a marginal new high cannot be ruled out, as long as 8,496.96 holds we should see 7,863.76-7,758.06 and from there while above 7,222.04, bitcoin should make a new high. We then will look at the RSI in 4h to determine the degree of the cycle. Agressive traders can buy the yellow box to hold for few days.
A break below 7,222.04 would signify a larger correction.
for now, while a marginal new high cannot be ruled out, as long as 8,496.96 holds we should see 7,863.76-7,758.06 and from there while above 7,222.04, bitcoin should make a new high. We then will look at the RSI in 4h to determine the degree of the cycle. Agressive traders can buy the yellow box to hold for few days.
A break below 7,222.04 would signify a larger correction.
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