Hello, my friends!
The largest Bitcoin bear is here. Today I found the Elliott wave formation which gave me the high confidence that BTC will dump hardly next couple on days.
Let's take a look at the 1h time frame BTCUSDT chart of the WhiteBit exchange. Here I am going to show you the local sub wave 3. It consists of the 5 waves. Wave 2 was represented as the triangle correction - rare situation, but it has happened. Wave 4 was the ordinary zigzag which has been ended at 0.5 Fibonacci and now the price finished the wave 5 inside wave 3.
The overall pump as I suppose is not over, but it's almost done. I think we will not earn a lot of money opening long trades. Wave 4 of higher degree have the target area next to the wave 4 end of the lower degree. Let's notice that it perfectly coincides with the 0.38-0.5 Fibonacci retracement of the entire wave 3. It gave me high confidence that my interpretation of the market's underlying structure is correct. Anyway I am holding my short from $17080, now I am in small loss and is going to wait for at least $15600 to partially take profit.
Best regards, Ivan
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