- Wave 2 did not retrace more than 100% of Wave 1
- Wave 3 is not the shortest of the three waves
- Wave 4 did not overlap Wave 1
I think shorting BTC would be a good choice here due to the fact that principle shows a downtrend, and additionally to the the trend failed to breakout of 2/1 multiple times. It's a bulls v. bears market right now, and bears are winning hard.
RSI previous was at around 25, and now it's at around a semi-healthy 42.
Something to think about.
Everything looking good so far!
Many have been caught by the bull trap, and they will be heavy in the red in the near future.
Started short position at 14800, stopped position at 13600. (-8.1%)
Beautiful correction. I think we could go way lower but I'm going to take my profits now as I'm satisfied with the return.