HI, After being successful on 2 Analysis on BTC now publishing this idea, I have studied closely few of bitcoin earlier corrections and i have marked next expected moves in the chart. I will keep updating the idea. If you like my idea please hit like and upvote. Please comment for discussion.
In order to reverse the current bear trend , BTC needs to break the two downtrend line marked red in the chart. 1 being main downtrend line other is short term. the moment it breaks the main downtrend line, it will be a confirmation of reversal.
I am not an financial adviser.
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Buy zone 7400-7900. Stop Loss : 7200.
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Price was in best buy zone (previous comment) bounced heavily from 7600.
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Nicely retested the support at 8200
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Next target T1-10000-10200.
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We on track with the direction of the movements and the support in the above chart. target 10000-10200 is still active.we didn't get the Target 10200 in this movement as the major resistance of 50ma pushed the price to test the support so i am dividing the channel of accumulation in two sub channel explained in below chart.
Trade closed manually
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stop loss reached at 7200.
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target 10k active
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updated idea
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next can head to 7.6k , idea updated here
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i see BTC is moving according to this idea.
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next expected movements
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Bitcoin is strictly following movements according to this idea. one more case of further correction may happen for which my idea of grand final fall is updated, but chances for that case is less. i would like to see all scenarios open so i have both the ideas. decision point will be breaking of 9250 support. we are good on this chart till we are above 9250 in next movement.
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we had our T1 and T2. target reached, also we had impact on downtrendline red color we didnt get the breakout. we are going back to our support at 8300. we will see if we can pullback up or go further down to 6k and lower to 3k to complete the correction.
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New idea on BTC after my research of wave pattern
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we got Target T1 reached, Target T2 reached. Breakout B1 and B2 confirmed, as per our main chart.
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we are still following this idea , still in the predicted channel.