Finally Bitcoin gives us something in terms of probable wave counts to work upon. First things first, if you have held shorts from sub 18000 levels, please take profits around 12700/13000 levels. To continue the story, the drop from sub 20000 levels can be counted as 5 waves labelled here (an alternate is just a-b-c, not shown here). What implies is that we have wave A of an A-B-C correction or wave 1 of 5 waves drop at a larger degree. With more conviction it can be confirmed "The correction is not yet over!!" a zigzag or a flat can take prices much deeper. Shall bring the bigger picture in my next update here. For now, conservative traders look to again sell around 17000/200 mark, stop above 20000 and target is open. Aggressive traders can trade both long and short game. Please do not trade without stop losses though.
Sincerely
Harsh Japee
Sincerely
Harsh Japee