Over in this video, I update on the Elliott Wave counts for Bitcoin and explain why I think that Bitcoin is going higher for a wave 5 of 3 of 5.
The stop loss will be below the wave 4 and given some leeway, will be around 115,900. There are 2 Take profit targets:
1. 119,251, and
2. 124,632
I made it known that my personal preference is $124,632 but note that once a new high is made, this wave counts will already be validated even if it then drops to our stop.
I talk about the possibility of trailing the stop once a new high is reached but commented that every trader must trade based on their own style and risk preference.
Finally, Good luck in your trading!
The stop loss will be below the wave 4 and given some leeway, will be around 115,900. There are 2 Take profit targets:
1. 119,251, and
2. 124,632
I made it known that my personal preference is $124,632 but note that once a new high is made, this wave counts will already be validated even if it then drops to our stop.
I talk about the possibility of trailing the stop once a new high is reached but commented that every trader must trade based on their own style and risk preference.
Finally, Good luck in your trading!
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