We are in retracement territory, and BTC has been hovering around the .5 retracement level, but we still have to finish wave C to complete the retracement. If the flag breaks down I might short until the .618 level to play it safe...if it breaks up then the retracement would be considered fulfilled and will go long for a nice wave up...If anything after the retracement is done, going long will be my main move as this was a bullish retracement.....
This is not financial advise, just a theory of where BTC might go. GL trading and happy holidays to everyone!
This is not financial advise, just a theory of where BTC might go. GL trading and happy holidays to everyone!
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Looks like the .5 retracement held, will be looking to go long here soon.
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I spoke to soon,and the flag did break down. Looks like we are headed to the.618 or .786 level. I'm not shorting as I didn't put orders below the flag breakdown, but will be watching and waiting to go long.
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BTC fell exactly to the .618 level where I went long..not sure if I plan on holding this trade or selling and buying back in.