BTC: Be mindful with your longs

18 set 2021

Tho bitty is still in an uptrend, I expect a wave C of this corrective wave to either retest the 42.5-43k support or to drop further down to 40.5k (0.786 fib of the previous wave). From there we could expect a return to the uptrend when the mfi be in the oversold region for long enough.

I would place a short order at 49k (0.618 of wave A) and 50.5k (0.786 of wave A), tp at 42.5-43k and sl at 52k.

Happy trading guys!