Hello, guys!
Yesterday I opened short at the bearish reversal bar breakdown, I told you about it. I suppose that overall uptrend is not over, but I am trying to learn how to trade corrective waves.
I have a good entry point, but I had a lot of mistakes in corrective waves, that's why decided to change stop loss at the entry. The Bitcoin price has finished wave 3 yesterday and now it's in wave 4. Looking at the wave 2 we can see that it has the shape of triangle correction. It means that there is a high probability that wave 4 is gonna be the zigzag correction. In this case the target area is Fibonacci 0.618 which has not been reached yet.
Best regards, Ivan
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