BTCUSD Medium Term Buy Opportunity (Long)
Great opportunity here to take advantage of bullish divergence during a bullish market.
Wave 3 was almost exactly 1.618 * wave 1, so Elliott Wave Theory states that wave 5 will be around the same length as wave 1.
I am waiting to see a higher low on the RSI and MACD histogram while seeing a lower low in price to confirm entering into this trade (on the 2 hour time frame).
Buy zone = 11151 to 11048
Stop loss = 10945.59
Take profit = 11317.8 to 11426
Wave 3 was almost exactly 1.618 * wave 1, so Elliott Wave Theory states that wave 5 will be around the same length as wave 1.
I am waiting to see a higher low on the RSI and MACD histogram while seeing a lower low in price to confirm entering into this trade (on the 2 hour time frame).
Buy zone = 11151 to 11048
Stop loss = 10945.59
Take profit = 11317.8 to 11426