Bitcoin is about to flash insane short setup!

Hello, everyone!

Bitcoin continues it's sideways move. The market is low volatile in the weekend, I expect the big move on the next week. Now we can see that BTC is trying to recover, but I suppose that this pump has the restricted potential.

I have already told you that I don't believe that Bitcoin will be able to break $30k. I made this brave conclusion when the price was $29800😨. After printing the wave 1 to the downside in my opinion it's just a corrective wave 2 which is represented as ABC zigzag. Now we are in wave C, it has the potential approximately at $29500. This target is not obligatory for reaching, we can see dump from current.

If BTC will reach this price level and print there the bearish reversal bar. I am going to close my Cardano short trade which has risk to reward 1:5 and enter trade for BTC becuase here we have much better risk to reward. The potential for the dump in wave 3 is at least $28k.

Best regards, Ivan

Trade easy with Smart tools
Utilize AI-enhanced SmartBot for automated decisions and SmartTrade terminal for tailored manual trades, all in one integrated platform
Get started

Similar blog posts

Experience the next level of trading efficiency