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Legal disclaimer: I am not a financial advisor, the information here presented is for educational purposes, to foment discussion and help the community...
Hi guys,
Bitcoin 4-hours chart:
Upon reaching 7800, what we could tell is that a retracement is imminent, this movement was not an impulse but part of the correction pattern that I propose here that could be what is happening with bitcoin.
ABC expanded:
Expanded triangles ABCDE pattern:
As it is the personality of waves 4 to have such patterns, flat patterns, it's not uncommon to see such price formation. I wouldn't recommend shorting it now unless you keep a tight stop loss. The patterns aforementioned might be in play, we indeed have more data in order to confirm that it is what is happening right now.
I am short-term neutral/bearish.
This is my daily chart:
My Bitcoin update on YouTube:
30 min update, afternoon:
If you have questions, don't be a stranger, ask me here...if you want to have a chart analyzed, ask me here as well...
Thanks for all the support!
And as always, enjoy your trades!!! :D
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Kucoin:
👉https://www.kucoin.com/#/?r=1HRvM