SkyRock Signals

​​#Analysis

#BTC

Update

Due to market shifts we are now at the B point of ABC Elliott corrective movement. If A was $3 800 and B is $4 010 level then the next stop according to the currently formed pattern is point C located near $3 600.

At the left chart we can see that "Head" part is about to be finished. We need 1 more candle at the level of $4 150. The price shouldn't go above this level and will decrease after it to form the left shoulder which ends at exactly around the specified level of $3 600. This is another strong sign for a short term BitMEX short signal

CME trades closed at $3 835 this enhances expectations of further short term decrease $4 150 - 4 050 is a good zone for short at BitMEX with a leverage no more than 5x.

This bullish shift is opposite replication of previous bearish shifts. It is a quite good sign for market recovering. This means the speed of recovering may be very underestimated and expected growth can be impulsive again