Trading Signal | BTCUSD | Swing | Elliott Wave (Mar 2020) - D

Trading Signal | BTCUSD | Summary

BTCUSD crashed since the time of the last post.

Trading Bitcoin | Buy Orders | Elliott Wave

I kind of seen this possibility, but the stake was high, and I decided to publish the opportunity, so it will not be missed.
We roll with the punches.

The Conservative Entry still remains in play, alive and still kicking.

Conservative Entry @ $5500 with SL @ $3180

BTC/USD - Weekly Chart (picture)


The fact that BTCUSD tanked does not necessarily mean that it's actually in a bear market and about to crash for good.
NO! From an Elliott Wave perspective, Bitcoin's structure extended itself in its complexity.
This does not mean that BTCUSD is not destined to start the expected rally. This only means that the Triple Three correction has been prolonged in duration and time.
A rise is in the menu, and should be starting very soon.

BTC/USD - Daily Chart (picture)


BTC/USD hit the 88.6% Fibonacci Retracements of Primary 1 (blue), and a reaction has been noticed.
However, it should be treated as a Minute iv (red) correction, within Minor C (red).
This is because the Bearish Divergence is not yet ready to sling-shot the price-action higher.
A last dip would be expected, followed by a realistic possibility for the bigger rally to commence.