It's a good time to take profits or a short position on BTC~
Intermediate wave 5 is at least a month or two away, so until that happens, I anticipate a pullback/corrective wave underway -- especially if BTC moves back under 15k (fib retracement 0.146).
Also to note that Elliot Wave shows BTC is underway on a Primary Wave III uptrend, so a diagonal wave is unlikely -- which indicates that BTC's support level of Intermediate Wave 1's high is very solid at 12.4k.
Sell considerations:
- Bitcoin is overdue a healthy correction
- Markets are uncertain as us elections shenanigans play out
- % of BTC in profit signals a profit-taking selloff is historically warranted
- Hodlers are wary of hodling BTC and looks for outs as govts take tough stance on exchanges
Buy considerations:
- Primary Wave rally is still underway. (Long term)
- Dollar-cost-averaging is awesome (means you will always buy the least when prices are high, and buy the most when prices are low)
- Because you love Bitcoin and what it stands for.
Also to note that Elliot Wave shows BTC is underway on a Primary Wave III uptrend, so a diagonal wave is unlikely -- which indicates that BTC's support level of Intermediate Wave 1's high is very solid at 12.4k.
Sell considerations:
- Bitcoin is overdue a healthy correction
- Markets are uncertain as us elections shenanigans play out
- % of BTC in profit signals a profit-taking selloff is historically warranted
- Hodlers are wary of hodling BTC and looks for outs as govts take tough stance on exchanges
Buy considerations:
- Primary Wave rally is still underway. (Long term)
- Dollar-cost-averaging is awesome (means you will always buy the least when prices are high, and buy the most when prices are low)
- Because you love Bitcoin and what it stands for.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.