Bitcoin / TetherUS
Long

BTC - How far will the pump go?

209
I´m considering Bitcoin´s short term recovery to be a corrective movement. I see two major resistance areas for the end of wave C:

- 32800 (100% A-B extension)
- 36000 (161,8% A-B extension and broken support area)

I was able to get a great entry at 28,965, and will take partial profit in the first level above, and depending of the reaction to 36k I´ll close the trade.

The bad news for those who aren´t in a trade is that we´re very overbought in the H4 timeframe, and there´s quite some room for retracement, so the risk-reward ratio is not favorable at current levels.

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