Trading Log Day 34: What now?

9 May 2020

Been a good rally over the past few days with Bitcoin prices shooting back to 10k after so many months. A short position was taken after the formation of the double top (a relatively strong double top). The uptrend has also completed the 5 wave cycle and is due for a short term retracement indicated by wave ABC, assuming the 9563 to be Point A, we should expect BTC prices to readjust to Point B before another potential downtrend. However, to be wary of the bullish trend looking at the 1d chart. Will update again shortly