[Red Apple] "Finally, escape from Box. But "_ BTC/USD _ 18.07.24

Finally, escape from Box. it took over 5 days

Let's start the analysis for today's BTC/USD chart.

If you are busy, you can just read below briefly
'1. Briefing '
'6. Summary and Strategy'
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1. Briefing
# escape from box
# again, small box
# bloodying altcoins
# major resistance_20EMA on weekly chart


2. Daily chart

1) Trend
a. Re-entering into short and long term up-trend line.

2) Candle
single candle : Opening Marubozu
candle pattern : strong bullish and take a rest. next continuously bullish. if next candle is not going under orange line, there will be another bullish candle.

3) EMA
a. breakthrough 100EMA(orange)
b. 20EMA(red) and 50EMA(purple) are crossed

4. 4H Chart

1) Trend
Same as daily chart

2) EMA
a. going up with being supported 20EMA(red)
b. 20EMA, 50EMA(purple) and 100EMA(orange) are heading upper direction.

3) pattern
a.

after getting out of box, it retest upside of the box and then now it is forming small box again.

b.

It can be considered achieving Target.

5) Elliott Wave

touched the range of 3 wave. Let see it's going up more or going down to corrective wave 4

6) Fibonacci

Still struggling inside of Red box(0.382 ~ 0.5) but it can get out of the box soon.

5. Etc.

As you see, from Oct. 2015 to Jan. 2018, it was staying over 20EMA. During the period, the price of Bitcoin sharply increase a lot and then, the candle was down under 20EMA at the end of January. After the time starting falling, weekly candles was never being located over 20EMA continuously. it means it's not easy to staying over 20EMA. Additionally, 20EMA and 50EMA on weekly chart will be met soon. it means that there is possibility being crossed.
Hope they are just meeting and at this time, it is staying over 20EMA like the time Oct. 2015.

6. Strategy and Summary
As i explained '5.Etc.', it is not easy to stay over 20EMA on weekly chart. however, in any situation, there are always chance to take profits.
At the moment, you can do box trading, but there's also always ricky. carefully do it with setting short stop-loss.
In case of Altcoins, it is almost oversold. it means not a chance to buy. There's still possibility to go down more. If you want to trade altcoins, should have strict standards or quite dangerous at the moment.

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If found something special, i will comment in real time

Comment:

Now, it was blocked by previous high point(red line)

Comment:

it broke the box and could buy inside of circle. let see next corrective candle and patterns.

Comment:

Count Elliot Wave again. I think Blue box is high possibility range for 3 wave and Maximum price of 3 wave is $8918.9.

Today's briefing is till here. Thanks and if you think my briefing is helpful, click "+Agree, +Follow".