BTCUSD accelerating rise.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD accelerating rise. The analysis shows that the ascending wave sequences (white line) are doubled. It can also be seen that the size of the accumulation sections has doubled. If the theory is correct, then I expect four times (4x) the amplitude of the wave seen at the beginning of the rise as a rising wave. This would mean that the current rise target price is 34469usd.


Rsi on weekly chart says deep pullback first.
+3 Reply
amino207 paulcarter840
@paulcarter840 yes and also in weekly time frame btc has 80 degree grade, which shows pullback
meszaros amino207
@amino207, I do not expect any further correction. The price increase has reached an accelerating stage.
sayed_faizan paulcarter840
what are these boxes and how are they made
meszaros sayed_faizan
@sayed_faizan, Thanks. Green squares indicate fractal sequences. I assume that in a stock market price movement, fractals are repeated. The amplitude of the fractal repeats is given by the ATRs. If the ATR of the price movement is large, the wave sequence seen in the fractal will also be larger.
meszaros paulcarter840
@paulcarter840, Yes. I agree with you. RSI is a good indicator. But it often happens, especially during cycle shifts, that the "stay out" signal. It can be seen several times that it gives an over-signal, yet the price increase lasts longer. Therefore, I prefer to use fractal analysis and wave analysis. Your comment was helpful. Thank you very much.
+1 Reply