Bitcoin is moving as per our previous published blog that you can view here.
Bitcoin is forming ABC pattern, and B wave is always tricky. Usually it goes towards 61.8% of A but can even extend beyond start of A. Can that happen this time considering many traders were bullish just few weeks back. I will not be surprised if we see 44K plus before wave C starts again.
The best way to trade this is to stay alert with wave counts and keep tight stop loss. Use leverage only when required and always trail your stop loss positions.
Here is the chart that I am looking at for the day:-
Wave 4 in formation, looks liek Wave A is formed and Wave B is in progression. This can take days to complete if not one or two traidng days. With FOMC today, there is volatility on the cards and it will be interesting to see how Bitcoin plays.
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