BTC Swing Long to 50k
Bitcoin / Dollar BITFINEX:BTCUSD
Entering a long trade given that we may be at Elliott wave 4 of 5. Will take profit along the red horizontal lines noted on the chart between 45k to 50k.
Fear & Greed indicator reads as neutral and the liquidation levels adjusted for a daily time frame read below the while dotted, suggesting that there’s still room in this uptrend before another corrective fractal comes in place.
This idea is only valid as long as we hold the white solid trend where the price current sits ~41k and we don’t fall under a 50% fib retracement of waves 2 to 3.
Trade
entry: 41.1k
sl: 40k
tp: 45k, 47k , 50k
