BITCOIN BTCUSD GANN ANALYSIS 15 MIN CHART 20 AUG 2024 07:43 IST

Aug 20

Bitcoin completes one full cycle of rise from 57858 low on 19 August 2024 at 15:30 IST to hitting a swing high of 60733 on 20 August 2024 at 06:45 IST. A rise of 2875 points of the security. Time taken is 60 bars and 15 hours. Earlier high came at 18 August 2024 18:15 IST. Time from high to low of 57858 was 85 bars and 21 hrs and 15 min. This low was overshoot because I like the low made at 58258 on 19 August 2024 at 05:45 IST. This low was near the cycle level from where the move started for recovery nte the Gann level near it was 58217. Time taken from high for this low was 46 bars and 11 hrs and 30 min.The rise caught momentm from the levels of 58217 on 19 August 2024 near time of 19:45 IST. we made a triple bottom on 15 min chart here. The lows were 58105 at 19:15 IST, 58106 at 19:30 IST and 58168 at 19:45 IST. last was the third higher low which Gann tells to watch for buying in this analysis. We need to watch third lower high also for profit booking or going short with suitable risk reward ratio. Major level to watch now is 60373. Breakouts can happen on either side with 60733 on upside and 60015 on downside. use the levels given prudently to make yourself decent profits. System followers stop loss is 100 points with minimum targets of 300 to 350 points.
Happy Trading !!!