Last time I told you here that the subwave 5 of wave C of the global wave 4 is going to the end and the new price growth is anticipated in the global wave 5. After that we saw the impulse growth to the upside which was the local wave 1. Now we see the corrective wave 2. The target zone for this wave is 0.38 – 0.61 Fibonacci ($55600 – 57000). We can even see the price on the red line $54500 (0.78 Fib). It will be ok.
If we consider this Elliott waves structure, the wave 3 is anticipated very soon. It is nice short term trade opportunity. I have already bought Bitcoin, if we will see decrease to the $55000, I will go all in with the very short stop-loss.
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