Don’t rush to chase longs after missing out on Bitcoin.
From the perspective of wave theory, on the daily timeframe the five-wave upward move has basically been completed. That five-wave move can also be viewed as the first wave of the bull market launch; the next move is likely to be a corrective second wave pullback. If we assume 87,000 is the top of wave one, then the pullback for wave two should be in the 70,000–75,000 range.
But don’t rush to short either. After forming a top, price will likely linger for a while. It won’t just drop straight down; it will give you enough time to make your judgment. So be patient and focus on standing by—wait for the second pullback to fail to break above the previous high and test the top, or for a small attempt near 90,000.
Although the bull market has started, at this stage the long trade’s risk-reward ratio is quite low. It’s more worthwhile to wait for the next phase of the pullback. #比特币
From the perspective of wave theory, on the daily timeframe the five-wave upward move has basically been completed. That five-wave move can also be viewed as the first wave of the bull market launch; the next move is likely to be a corrective second wave pullback. If we assume 87,000 is the top of wave one, then the pullback for wave two should be in the 70,000–75,000 range.
But don’t rush to short either. After forming a top, price will likely linger for a while. It won’t just drop straight down; it will give you enough time to make your judgment. So be patient and focus on standing by—wait for the second pullback to fail to break above the previous high and test the top, or for a small attempt near 90,000.
Although the bull market has started, at this stage the long trade’s risk-reward ratio is quite low. It’s more worthwhile to wait for the next phase of the pullback. #比特币
