BTCUSD update ... https: //uk.tradingview.com/chart/BTCUSD/VSsyAA4O-The-chance-of-BTCUSD-correction-increases/ continue analysis. Thanks for the many likes over 100 I have never received :) In my opinion, the construction of the rising fractal sequence continues. From my current analysis, it can be seen that the correction phase is complete. I hypothesize that even an accumulation range may develop before the further rise (red square), this is because the end of the current correction phase is characterized by a rebound, so the now lagging accumulation range starts to build from the previous peak level. In my opinion, it is already worth taking long positions at these points. The target price is 66671 usd. Consider this target price to be the primary target price because the final target price is above 100,000usd.
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Currently, bitcoin is very strong. Therefore, I suggest that it is advisable to monitor the movement of the EURUSD or the dollar index. In the event that the EURUSD declines (the dollar strengthens), the bitcoin will also strengthen a bit or move sideways.
Precise, thank you for your work. As I've been following your posts in the recent rallies, very impressive ideas and predictions btw. I see you are sure of a 100k.
Do you expect smaller corrections on the way to 66k as we have seen at 34k as well? Or the next big correction may only come at 66k?
Do you expect the fractal to repeat itself from 18k to 41k, and then 41k to 66k, and then 66k to 100k? What after that?
What do you see as the worst-case scenario?
Thank you for your time, would really appreciate your answer.
Greetings from Budapest.
meszaros
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@bimaxim, Thank you very much. I expect the first correction in my analysis after reaching another maximum level. This can be followed by the construction of an accumulation range (this is also a kind of correction). The next correction is around 44,000 usd levels.
Great Analysis. So is the yellow rectangle the area which you think the price will testing, moving within that area and then gradually break upwards towards the Green rectangle?