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05/09/2022 00:33:59 GMT

Bitcoin Elliott Wave: Comparing BTC to Amazon's trend [Video]

Peter Mathers TradingLounge

Bitcoin Elliott Wave Technical Analysis and TradingLevels. Market Summary: Bitcoin follows tech stocks and today I briefly compare Amazon (AMZN) to Bitcoin to offer a general understanding of the trend and timing of the low
Minor Group 2 MG2|48k}37,200|36,500 is the tested resistance, this means the market is leaving the Medium Level (ML4) 40,000 and the next levels are 35,000 then 33,000 which is the top of Minor Group1. That said the Bitcoin trend will move through 30,000 and lower.
Bitcoin Trading Strategy: For short term traders use CME Futures to short BTC and Hodlers wait to buy Bitcoin at lower levels as I will be doing myself.

Author

Peter Mathers

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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