BITCOIN - Intraday Update - 12/03/20 (Short-term)
Bottom Line: Subdividing higher within wave iii of (iii)
Bottom Line: Subdividing higher within wave iii of (iii)
Trade active:
Trade active:
Outlook: Expecting BTC to recapture its 19958.0 high and beyond.
Analysis: The break above $19958 signals the fourth wave triangle consolidation discussed yesterday is complete, and the move puts Bitcoin back on track to challenge the next upside hurdle. The bulls are in control while $16220 - wave ii - stays intact as support.
Outlook: Expecting BTC to recapture its 19958.0 high and beyond.
Analysis: The break above $19958 signals the fourth wave triangle consolidation discussed yesterday is complete, and the move puts Bitcoin back on track to challenge the next upside hurdle. The bulls are in control while $16220 - wave ii - stays intact as support.
Trade active:
Comment:
Analysis: No change to the outlook. The wave model calls for BITCOIN to complete a series of fourth wave patterns. We'll see if BTC can challenge the recent $19958 high as the next upside objective.
Trade active:
Breaking above $19958 is the next upside objective for the bulls.
Bottom Line: A fifth wave rally is in its early stages.
Note: Prices can vary between exchanges, and consequently there may be differences in our chart prices due to different data sets.
Breaking above $19958 is the next upside objective for the bulls.
Bottom Line: A fifth wave rally is in its early stages.
Note: Prices can vary between exchanges, and consequently there may be differences in our chart prices due to different data sets.
Trade closed manually
Order cancelled
A break of 20093.0 is the next upside objective for the bulls.
Analysis: Bitcoin is advance from Monday's 18140 low and needs to trend on up in an impulsive manner to support labeling 18140 as the wave (4) low. The next big upside hurdle to overcome is 19958.0. Resistance above there an "all-time high" around 20093.0.