** IT'S NOT FINANCIAL ADVICE **
** SO PAY ATTENTION IT'S JUST MY IDEA ABOUT THE NEXT MOVEMENT IN THE CRYPTOCURRENCY MARKET **
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Hello Guys
what's up?
Hope you feel great and always be happy and successful.
Today I want to talk about the Elliot cycle of Bitcoin.
it's really interesting.
so don't waste time and see carefully this Elliot analysis.
this analysis is about BTC in the weekly timeframe.
as you see we have two different parts.
in the first part, a huge bullish trend is obvious.
I drew the five main trend (Red Line)
and show you all the details you need to know. it's about minor waves(Blue & Black lines)
so after finishing 5th wave, I expect the market to correct. this correction contains three waves. we call it A, B, C
A is a downtrend wave.
B is up trend wave.
C is a downtrend wave.
The market started to downtrend from 69k to 15k as A downtrend.
at the end of the A wave (15500) we started an uptrend that we know as B.
and finally, we have a C downtrend to the support zone.
but there is a question, How high can the B wave rise?
well, well, well ... let me tell you.
we change the timeframe from weekly to daily. so we can see 35500-36000 is a very strong zone that causes to push the price in the previous movement to 69K.
at this time we lost this support zone and unfortunately, this support zone converted to a Resistance zone.it's really bad news. I expect the price to retest 32500-33500 and then drop. it means the B wave will be finished. and a new correction wave is beginning.
as I told you in the previous analysis we have three strong zones to support the price
this first one is 9800-12500
the second one is 7500-8500 and the Third one is 3800-4300
it means the target of the C wave is one of three support zone.
and if we close two days below the first support zone with high volume, the next support zone will be active.
please pay attention to money management and put stop loss in your trade.
I EXPECT YOU TO SHARE THIS ANALYSIS WITH YOUR FRIENDS AND WRITE YOUR COMMENTS BELOW.
Thank you so much in advance.
** SO PAY ATTENTION IT'S JUST MY IDEA ABOUT THE NEXT MOVEMENT IN THE CRYPTOCURRENCY MARKET **
------------------------------------------------------------------------------
Hello Guys
what's up?
Hope you feel great and always be happy and successful.
Today I want to talk about the Elliot cycle of Bitcoin.
it's really interesting.
so don't waste time and see carefully this Elliot analysis.
this analysis is about BTC in the weekly timeframe.
as you see we have two different parts.
in the first part, a huge bullish trend is obvious.
I drew the five main trend (Red Line)
and show you all the details you need to know. it's about minor waves(Blue & Black lines)
so after finishing 5th wave, I expect the market to correct. this correction contains three waves. we call it A, B, C
A is a downtrend wave.
B is up trend wave.
C is a downtrend wave.
The market started to downtrend from 69k to 15k as A downtrend.
at the end of the A wave (15500) we started an uptrend that we know as B.
and finally, we have a C downtrend to the support zone.
but there is a question, How high can the B wave rise?
well, well, well ... let me tell you.
we change the timeframe from weekly to daily. so we can see 35500-36000 is a very strong zone that causes to push the price in the previous movement to 69K.
at this time we lost this support zone and unfortunately, this support zone converted to a Resistance zone.it's really bad news. I expect the price to retest 32500-33500 and then drop. it means the B wave will be finished. and a new correction wave is beginning.
as I told you in the previous analysis we have three strong zones to support the price
this first one is 9800-12500
the second one is 7500-8500 and the Third one is 3800-4300
it means the target of the C wave is one of three support zone.
and if we close two days below the first support zone with high volume, the next support zone will be active.
please pay attention to money management and put stop loss in your trade.
I EXPECT YOU TO SHARE THIS ANALYSIS WITH YOUR FRIENDS AND WRITE YOUR COMMENTS BELOW.
Thank you so much in advance.