Neerav Yadav
50 Eyes Market Analysis
For a detailed outlook and trading strategy check the below video report.
As per the daily chart of Bitcoin (BTC/USD) below,it seems that BTC has completed a Triangle formation (As per Elliott Wave Terminology).
The Triangle seems to be in Wave b) of Wave X which seems to be moving as a Flat structure. A clear break above the Wave d high of this Triangle would suggest that we can see higher level as specified on the chart, however if we see a Invalidaiton of this pattern, that is market going below the Wave c low of this Triangel then that would serve as a Stop loss for any longs and we can expect lower levels into the white support zone present on the chart.
As such this pattern is providing trading opportunities for both sides with adequate stop levels and hence should be paid attention to.
The author or any person directly or indirectly associated with 50eyes.com does not hold any liability for any profit, loss or loss of profit made using the views presented. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures or forex); therefore, you should not invest or risk money that you cannot afford to lose.
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