Bitcoin could go up again
2024-12-07

Hi traders,

Last week Bitcoin finished the Triangle and went to the profit target. After that it dropped and shot up. My main idea is that the bigger (orange) correction turned out to be a Flat (last impulsive leg down was (grey) wave c of the Flat).

So now we could see more upside again. 

But it could be that the Triangle (small dotted lines) was wave 4 and the impulsive wave after that, wave 5. So the last very impulsive leg down could be the first leg of a very big correction down. Now if price makes a correction up (maybe into the higher 4H FVG), that could be the case.

Let's see what the market does and react.

Trade idea: Wait for the finish of the small correction down. After a change in orderflow to bullish again, you could trade longs.

If you want to learn more about trading ICT concepts with wave analysis, please make sure to follow me, give a boost or respectful comment.

This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide trade signals.

Don't be emotional, just trade!

Eduwave