Bitcoin CMP $70690
The beauty of looking at various asset classes is that they rise and fall together. In my view the correction in the crypto is over.
Elliott- The v waves within the C wave is done. Hence to me this correction is over.
Fib- The crypto reversed just shy away from the 59K which is the confluence zone on the chart.
Trendline- the same area is also supported with a trendline. Hence the zone is a strong strong support.
Oscillators- All the oscillators are at support. This is yet another indication of strength.
Bar - the daily chart is showing a railway track which is a directional signal.
Capitulation- the huge volume on the bottom is indicating capitulation.
Conclusion- yesterday it was silver that bounced back strongly and bitcoin too which is indicating a reversal.
The beauty of looking at various asset classes is that they rise and fall together. In my view the correction in the crypto is over.
Elliott- The v waves within the C wave is done. Hence to me this correction is over.
Fib- The crypto reversed just shy away from the 59K which is the confluence zone on the chart.
Trendline- the same area is also supported with a trendline. Hence the zone is a strong strong support.
Oscillators- All the oscillators are at support. This is yet another indication of strength.
Bar - the daily chart is showing a railway track which is a directional signal.
Capitulation- the huge volume on the bottom is indicating capitulation.
Conclusion- yesterday it was silver that bounced back strongly and bitcoin too which is indicating a reversal.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.