Market Analysis for Apr 16th, 2019

Apr 16, 2019 - 11:06 AM EDT

Just to share my view I believe there is a reasonable chance, with the setup we have in BTC that we have bottomed. If we move to $5300 and then only see a corrective retrace then I know. There is quite a mess on many charts, but that's wave 4 for you. And, being ready for lower is reasonable, but I will not be surprised by upside surprise. I'm watching for more confirmation.

Without a doubt the risk to reward math suggests be long, not short, or no position. But It doesn't say all in.

Ryan Wilday hosts the Crypto Waves service on ElliottWaveTrader.net.

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