No-trading zone for me, I will simply wait for a breakout, considering this could be solved sideways, downwards and upwards.
What I would wish for is a weekly candleclose tomorrow night above the historically important weekly EMA200 which is currently our strongest support.
If we close underneath by next week´s sunday close (capitulation in a big wick down to $2.9k possible), it will probably take a long long time to recover from that.
I am still learning Elliott so please don´t judge too hard if the waves ain´t fully correct...
What I would wish for is a weekly candleclose tomorrow night above the historically important weekly EMA200 which is currently our strongest support.
If we close underneath by next week´s sunday close (capitulation in a big wick down to $2.9k possible), it will probably take a long long time to recover from that.
I am still learning Elliott so please don´t judge too hard if the waves ain´t fully correct...
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Updated Elliott Wave
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Fairly possible 4 is going to go higher and 5 will therefore be delayed, let´s see ...
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UPDATED, Option 2 from 6h Bitstamp: Reversal Falling Wedge on close come into play.
Possible Long.
Possible Long.