Long from start of Wave 5, and opening a short on 0.618 Fib.

I have opened a long position on the horizontal support that Bitcoin is holding at $6577, which coincided very nicely with the top of Wave 1. Elliott Wave - Wave 4 cannot move into Wave one's region, so it was a very nice risk to reward ratio long for me with stops just below Wave one's top. I will be holding this long(keeping a close eye on it of course) up to a double top/ 0.618 Fibonacci retracement where i will be closing my long and entering into a very big short position with stop just above the descending triangle resistance.

Yorum:

So this short trade worked out very well :D