#elliottwave
It's difficult to trade BTC right now. We're at or near a top, and due for some consolidation. In the chart is a possible scenario where the btc/usd price goes to $50k on the last leg of a wave 5, and is currently in a sub-wave 4 in development. The #etf anticipation is not something to fade, but the risk or probability of a correction is high.
Revising my view a bit... lowering the target to $48k
Also... this is me speculating on where a W5.5 ends. Basically very near, "the top" for a while - so, be risk aware.
Looks like it could be a developing triangle, which fits w/ a w4. If you trade the triangle, use a stop to avoid getting hurt on the possible rapid drop (considering a slight overthrow from a the support trend - to clean some nearby stops), on Sunday night's futures market open.
#trading stuff ↑
