10/27/2024 Bitcoin Idea. It will go down...
2024-10-27

For now, I believe that the downward ABC is still ongoing. Currently, we are seeing a rise within the B wave of the Green ABC correction.

RED ABC-  I expect the "Red ABC" to either form a triangle or a flat ABC. If it turns out to be a flat ABC, it would actually be more convenient for trading since the stop-loss  would be much shorter.

 If we enter a position around 69,000 which is end of "Red  ABC correction", we can set a simple stop-loss at around the previous high of 69,500 and aim for a take-profit at least around 64,700. 

This would make for a very favorable risk-to-reward trade. However, since the chart isn’t fully formed yet, we should wait and see.
