Description
⋅ BTC Cycle 1 out of 5cycle.
Cycle 1 for Impulsive uptrend
Pattern Forming: Bull Flag
Target Ranges bewteen 8800$-9100$.
The cycle 1 theory of my BTC analysis stand for EW count for an Uptrend Impulsive waves.
In reference to my previous post where we made mention of our starting point of the wave count to be the yearly low so far at 5724$.
Principal Wave 1 is almost over, presently trading on sub wave (4-5) of wave 1.
Level to watch for possible reversal are:
7865
7775
7650
7585
Note:
If all the above level break then it implies we are on larger correction and Cycle 1 is completed and Corrective wave 2 in progress.
Cycle 1 for Impulsive uptrend
Cycle 2 for Corrective wave
Cycle 3 for Impulsive uptrend
Cycle 4 for Corrective wave
Cycle 5 for Impulsive uptrend
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⋅ Our first support level bounced BTC off, 7865
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⋅ We update recent level to watch here for both support and resistance. Bullrun all the way.
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⋅ Price already breakout of the bull flag, its well painted and waiting for action.
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⋅ Flag and pole with target
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⋅ Flag breakout and possible re-test of the flag channel before final flyout.
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⋅ BTC flag is so clean to be ignore. Let see if it will play out.
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⋅ Guy let keep an eyes on this range of price 8049$ - 8292$ if price break this range it will move seriously. Either way but I favor upbreak
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⋅ Same level did the magic again yesterday 7865, It send BTC back into the range again.
Comment
⋅ We have wider range of descending triangle pattern
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⋅ I started this thread yesterday for the purpose of the floating wave 4.
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⋅ New post created on BTC to follow up the previous analysis, guys do please have a look and leave your comments.
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⋅ Updated post opened to follow the current market effect.
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⋅ Hi guys
Please follow this post for more updates on BTC.