Bitcoin and Ethereum Technical Analysis Elliott Wave Forecast & Trading
Overview: Bitcoin and Ethereum - there is a good case for being bearish and bullish, in regards to the Elliott wave count both markets are getting to a point of no return, meaning that is a trading session or two we will know if the crypto markets will be be bearish or bullish.
Bitcoin Technical Analysis 45,000 resistance held, the next step for the bullish case is to develop a solid support on 43000, if the 42,000 becomes the resistance then the bears have control of the market.
Trading Levels Bitcoin: mTL3|43,000 the Midpoint mTL5|45,000 and Minor Group2 46,500|47,200|48,000
Bitcoin Trading Strategy: Build long trades on the 43,000 as the tested support with a Classic TradingLevels pattern then on 45,000 as support
trading tip: dollar cost average btc strategy - hodling
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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.
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