Hello, everyone!
After today Powell's speech Bitcoin demonstrated the local volatility increase, but in mid-term picture it has not changed anything. As I told you many times events and news do not change the trend direction. It's just noise which makes the trading decisions more difficult.
I have been waiting for almost a week how the waves will be formed and made a conclusion, that wave 3 of any order has been finished exactly at 1.61 Fibonacci extension level. Minimum Awesome Oscillator's value give us the precise answer where the wave 3 has been ended. The fact the AO crossed the zero line tells us that wave 4 is in progress and close to it's end.
In my opinion, wave 4 has the shape of triangle correction, which is not obligatory has to retrace too high. Therefore, we can count the wave's 5 target. It's minimal target is located $25200, maximum one - at $23500 (see my previous analysis).
My plan now it looking for the short trade entry, I cannot see here any potential pumps.
Best regards, Ivan
_____________________________________
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After today Powell's speech Bitcoin demonstrated the local volatility increase, but in mid-term picture it has not changed anything. As I told you many times events and news do not change the trend direction. It's just noise which makes the trading decisions more difficult.
I have been waiting for almost a week how the waves will be formed and made a conclusion, that wave 3 of any order has been finished exactly at 1.61 Fibonacci extension level. Minimum Awesome Oscillator's value give us the precise answer where the wave 3 has been ended. The fact the AO crossed the zero line tells us that wave 4 is in progress and close to it's end.
In my opinion, wave 4 has the shape of triangle correction, which is not obligatory has to retrace too high. Therefore, we can count the wave's 5 target. It's minimal target is located $25200, maximum one - at $23500 (see my previous analysis).
My plan now it looking for the short trade entry, I cannot see here any potential pumps.
Best regards, Ivan
_____________________________________
❤️Follow me and never miss the update❤️
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Claim up to 600 USDT in welcome rewards & compete for a share of 5,000 USDT in BitMart Futures Contest!
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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.