BTCUSD we reached our target price. At the 34469 usd level I have already indicated in this analysis, we need to calculate a target price strategy uk.tradingview.com/chart/BTCUSD/L7odCffn-BTCUSD-accelerating-section/. What does this mean? Target prices do not mean that we need to close our position at these levels, but that we need to prepare for a possible close with profit protection. To do this, we need to identify the regularity of the current movement. This would be the aim of the current analysis. uk.tradingview.com/chart/hLlQR1bf/ My previous analyzes denote ATR axes. It can be seen that this has also changed. The angle of the ATR axes has become steeper. This means that the price movement of bitcoin is accelerating. I expect a shorter correction close to the target price, despite the acceleration. The reason for this is to be found in the wave sequence. An orange line is visible in the analysis. This is the wave axis. Wave motions are characterized by moving symmetrically to the wave axis. I look forward to that now. Since I assume wave symmetry, I consider the inbound correction and the outbound correction of the wave sequence to be the same. Therefore, I expect a correction in the coming days by building a short accumulation range. Then, stepping out of this, I expect further strengthening.
As Usual awesome analysis bro. So you dont expect any deeper correction?
meszaros
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@Girrad, Thank you very much. For now, I don’t expect a deeper correction. In order to calculate any correction range at all, a decreasing phase of at least 1 day is required. From those data (speed momentum, trading volume) it is already possible to analyze the further trajectory. Based on current motion data, I see only one accumulation range as likely. But we are constantly monitoring and counting the instrument trajectory data. If there is a change in it I will indicate on my page.