As you can see, there is a possibility of a short price rise up to $ 58,000. If so, this B-wave motion would be part of a larger correction.
The structure of this probable A wave, which is about to be completed, can be identified as: flat with an elongated C wave, which occurs in triangles. This triangle can take months to complete.
Due to the price interference of wave 4 with wave 2 in the possible planar wave C, its structure is considered as a terminal in which wave 5 probably can not end much beyond the end of wave 3, and to confirm the existence of the terminal, the price must be about Half the time spent on the terminal will reach the starting point of Wave 1, which is about $ 58,000 here.
Therefore, there is an expectation of a strong uptrend after the end of Wave 5 in the range of $ 30,000, in which case the rest of the hypotheses about Wave A and the overall structure of the triangle can be considered very likely.
In the event of a strong downturn in $ 30,000 support, this analysis will be invalidated and we will have to wait for the corrective structure to be completed so that we can give a detailed opinion on its future movement.
So if you are going to trade with this hypothesis, enter in the range of $ 30,000 with a small loss limit and consider the profit area around $ 58,000.
The structure of this probable A wave, which is about to be completed, can be identified as: flat with an elongated C wave, which occurs in triangles. This triangle can take months to complete.
Due to the price interference of wave 4 with wave 2 in the possible planar wave C, its structure is considered as a terminal in which wave 5 probably can not end much beyond the end of wave 3, and to confirm the existence of the terminal, the price must be about Half the time spent on the terminal will reach the starting point of Wave 1, which is about $ 58,000 here.
Therefore, there is an expectation of a strong uptrend after the end of Wave 5 in the range of $ 30,000, in which case the rest of the hypotheses about Wave A and the overall structure of the triangle can be considered very likely.
In the event of a strong downturn in $ 30,000 support, this analysis will be invalidated and we will have to wait for the corrective structure to be completed so that we can give a detailed opinion on its future movement.
So if you are going to trade with this hypothesis, enter in the range of $ 30,000 with a small loss limit and consider the profit area around $ 58,000.
Comment:
As i said Before....