[Red Apple] "Rounding Bottom(Cupandhandle)?"_ BTC/USD _ 18.08.04

It's forming Triangle after breakout of Wedge.
Then, Let's start the analysis for BTC/USD chart.

If you are busy, you can just read below briefly
'1. Briefing '
'4. Etc.'
'5. Summary and Strategy'
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1. Briefing
# Breakout of Wedge but possibility of moving sideways for a while
# Possibility of Dead Cross bet. 20EMA and 100EMA on daily chart
# Rounding Bottom (cup and handle) ?

2. Daily Chart

1) Trend
Breakout up-trend line

2) Candle
Similar with Hammer but not enough (Candle's body is too big)

3) EMA
a. Candles keep staying under 20EMA(red) and 50EMA(purple)
b. 100EMA(orange) can be crossed over 20EMA soon.

4) Sum.
The candle was not enough to be recognized Hammer for 'Buy' and EMA also still shows signal for 'Sell'.

3. 4H Chart

1) Trend
being resisted by up-trend line

1) EMA
a. 100EMA can be crossed over 50EMA

2) Pattern

a. Breakout of Wedge
b. Triangle

3) Elliott Wave

a. 4th wave can fall down to highest point of 1 wave
b. possibility for correction wave abc or correction wave 1~5.

4) Fibonacci

still staying around 0.382

5) Sum.
At the moment, Bollinger Band is squeezing. it means the candle can be moved sideways for a while. I guess that BTC is standing at the turning point of up or down.

4. Etc.

If corrected wave is stopped here, there's possibility to be formed Rounding Bottom pattern (Cup and handle). Actually, this pattern need more time but this market move quite quickly. so, i thought this is possible.
If it goes up from now until neck-line, you can buy from red circle which penetrate neck-line.
This pattern is just for your reference. if it goes up later, i'll introduce it again.

5. Strategy and Summary
a. About previous Briefing : if you bought BTC when Wedge was broken, check triangle pattern. but there's possibility to be formed Box.
b. About this Briefing : Same as previous strategy because many resistances are up there. (2 up trend lines, 1 down trend line, EMA,,,). It's no late to buy after confirming penetration of resistances.
If you are aggressive trader, always set your stop-loss and keep it

Trade safely and make your standards

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Also, if found something special, i will comment in real time.

Comment:

At the moment, it's moving between 20EMA and 50EMA on 1H chart.
Let see the direction of breakthrough.

Comment:

now, check support from lower side of triangle and then upper side of Wedge.

Comment:

Supported at lower side and then resisted at upper side.
Keep focusing on the movement.

Comment:

Penetrated lower side of the pattern. if it falls down more, check whether it is supported from upper side of Wedge or previous low level($7283.6).
For your reference, the level of 50EMA on daily chart is about $7300.
Additionally, if it drops under $7250, can be dropped about $6800 as i mentioned previously,.
This is end of this briefing.
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