As you can see, #BTC is showing slow price movements these days and is showing more of a “time based” correction. In these situations, until the candles move along and complete the patterns better, we cannot really say what the outcome will be.
I’m trying to follow the patterns to better forsee the movement which can help me to find a good entry point.
If you are following my analysis, we have said previously that we are in triangle ... (ABCDE)
After we are done with this correction, we will definitely have good uptrend movement and rally to the top.
Therefore, we are trying to analyse different Bitcoin structures for the next 1 or 2 days...
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In the above chart as you can see, we imagine that wave D from the triangle is not over yet and we are still moving within it.
And we will enter correction wave E before starting with the main ascending wave.
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Hello friends!
I have analysed the #BTC chart according to the most recent movements and now we can see that Bitcoin has crossed the triangle with an imcomplete wave “E” towards “X” and for the next part we should see a 3 wave pattern for “Y” I assume.
Current #BTC movement is about to complete a correction from “b” and if #BTC can stabilize over and above 9800, can ascend upto 10200 region.
I still recommend you to just #HODL Bitcoin and other #Altcoins seem to bounce back by the time Bitcoin stabilizes.
The reason for the delays in updating the charts is; I always believe in quality work and never want to give you wrong information by constantly updating the charts unnecessarily!
We can recognize the patterns more easily as the time goes by so until that time we need to be cautious...
I always update the charts as I feel its necessary for you to learn #BTC bigger movements so it is easier for you to follow and exit the market wherever and whenever you see fit!
And I believe simpler charts with lesser number of lines are always better to understand for everybody including newbies, I always explain the chart in this section so that professional traders can follow the reason for the movements as well!
Thanks for your kind comments and support!
Thank you everybody!
And...
GOOD LUCK!!!
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