BTC SHORT INTO LONG-EW

BTC SHORT INTO LONG-EW

Bitcoin / U.S. dollar BITSTAMP:BTCUSD


I will be taking a short off of the 0.786 retracement /weekly levels based on a confluence of two Elliot wave counts-on being a c wave of a correction of the impulse down and the other being the end of wave 3 of the impulse up. Therefore profit taking 1 will be quite quick at the 0.382 and I will be waiting to see the reaction at these levels to decide whether or not to enter a long position on a different account. If we fall through this support them my target will be the monthly level and I will take a long off of that level. If we bounce off of the 0.382 (PT1) I will enter a long for the 5th wave of impulse and then enter a short, and then enter a long as this will be part of a bigger impulse move

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