BTCUSD The correction has been completed. My previous bitcoin analysis followed exactly the formation of the correction. I am currently building my analysis on a pure ATR based mathematical model. The yellow square in the chart shows the recent accumulation range of bitcoin. The accumulation range is most easily determined by an ATR calculation. We speak of accumulation when the absolute average value of the rising candles of the wave sequence in the range is equal to the absolute average value of the falling candles. We talk about absolute value because here we calculate the average value of the candles by separating the average of the closing values of the rising and falling candles of the last 14 days. We get two values. The "size" of these two values is represented by the yellow square. The red squares of the same size at the top and bottom of the yellow square are the "spike areas". " This is where the price quote can be spotted. This is what happened in this case. Since we are talking about an accumulation area, we assume that the accumulation movement of the wave sequence will continue. Therefore, I expect a further rise from the lower level shown in the chart. Target price : 57702 usd
Comment:
Sorry I was a bit imprecise. The sum of the absolute values should be equal or close to equal.