This is my view for the weekly Bitcoin chart
It means that the general trend is upward from my point of view.
Be sure to check the 4-hour chart, I have uploaded it in the continuation of the analysis.
The marked white lines are my targets .
The first target is almost touched.
After reaching the orange line, the cycle closes and dies, and a new cycle is born.
FX:EURUSD
When the candlesticks reach the specified level, the flag will be formed and then we will have the small up to the specified target.
After the scenario happens, I will update the analysis.
The analysis was done according to fractal analysis and high and low. You can also see the flag drawn above. According to Dow Jones analysis, it should touch two targets. In case of touch target1, I will update the analysis.
According to the fractal view and the cyclical nature of the gold market, it can climb up to the $2000 area and after that it will fall to the specified targets, contrary to expectations.
The first target is a definite thing for me, and it should be given time to check the second target.
According to the ups and downs and waves that can be seen, it is expected that our first target will be touched with a high probability and our analysis will be successful.
In the previous analysis, we predicted the rise of gold and the candles hit our TP.
In the new analysis, we see signs of gold falling according to H&L and analysis.
In my opinion, gold will fall to the specified level with a high probability of 90%.
Time will prove, not words.
Mahan notebook.
FOREXCOM:XAUUSD
