Just a quick share of my long term idea on BTCUSD. If previous Halvenings are anything to go by then we can expect price to continue into the apex of the symmetrical triangle and producing a break out to the upside during Q4 2020 or Q1 2021.
Elliot wave count adding further confluence to my previous ideas.
Expecting a bullish breakout from current consolidation.
This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only....
This idea depends on the impending breakout being a bullish one.
Expecting price to move further along the Riding Wedge before meandering it’s way back down during the 3rd quarter of this year.
This is not trading advice. All content/ information shared in this idea is purely educational in nature...
We’re in a clear Bullish Ascending Triangle on XAUUSD. There is a possibility that the wave D has not formed yet. I will be looking to see if we get a bounce from resistance.
As you know, wave E does not always get put in so I would prefer to go long from the bottom of E (1680-1684) if it plays out rather than to short from D.
Either way, I’m expecting a break...
Price moving along the long term channel as expected with a couple of touches on the mid-line this week. Trend continuation to target price 1737 will be supported by a price close above the mid-line each week. If price falls below the mid-line then the 1627 level is still open for a test.
Simply sharing my view on where the price could be heading to in the next...
A breakout to the upside to resume the uptrend seems likely after a short period of consolidation. Will be looking for a continuation of bullish chart patterns to confirm this.
Simply sharing what I see from a chart pattern perspective.
Trust your own analysis.