It seems BTCUSD is in its reversal mode. As per harmonic patterns, it's not beyond $35000 in this run.
As per crab Harmonic pattern, it has already achieved the of XA leg i.e.1.618 level. Whereas it is just waiting to achieve the extreme level of projection of BC leg i.e. 3.618 level.
For the same fractal previously my analysis went wrong, because this wasn't a perfect match. But the current chart shows perfect matching of fractal from the month of May- July matching with mid Nov -present.
I my previous post I also mentioned that BTC is bullish so their is a possibility of failure of analysis and that actually happened.
In the current...
BTC USD is creating an Extended Harmonic Patterns - The Crab Patterns
B point retraced XA by Fib 0.618 (13102) level
C Point is retraced AB between 0.786 and Fib 0.886 level.
Now D point in the process of forming the important Fib extension of XA which is 1.618 level ( 29000 )
That is the projection as of now for BTC-USD in this bull run.
FLAG = Impulse + Correction
📚 LEARN MORE
💰 EARN MORE
After a significant drop in Bitcoin price , the price is in a correction wave.
What makes the chart interesting today is that:
. Bitcoin is likely to challenge the 18042 ~ 18227 resistance area.
. A break above 18227 could push the pair to the 19487 area .
. A resistance rejection ,...
BTCUSD has given the highest move now if it breaks $19000 level( fib retracement level of AB 0.236) then there will be a buying opportunity at $18434 (fib retracement level of AB 0.618) and $18118 ( fib retracement level of AB 0.718) level).
It may target till all the important extensions of AB ( i.e. 1 ,1.272 and 1.618) in USD terms the targets may be...
Truncation learning - shortening something
That why Elliot used the word failure shorter 5-wave compare to 3rd Wave, forever it does not move beyond or higher the end of the third. We prefer the less connotative term truncation or truncation fifth wave as illustrated in the chart.
Reason of Truncating in 5th Wave:
In the bull market, weakness in price &...
In my previous analysis I talked about The falling channel Bitcoin was in. However when I took another look at it, it looked more like a falling wedge. This does not make any difference in the outcome of the price but this shows that TA can be subjective. But that is not what I wanted to talk about.
Falling wedges and channels are my favorite bullish trade...
KEEP EYE ON BITCOIN
THE INFORMATION IN MY IDEAS IS PROVIDE FOR EDUCATIONAL OR INFORMATION PURPOSES ONLY.
THIS IS NOT FINANCIAL ADVICE.
ENJOY SOME PROFITS
MAKE SURE TO HIT THE LIKE/SUPPORT FOR MORE
THANKS A LOT
WISE YOU SUCCESS
Should I declare the official end of the bear market? and the beginning of the accumulation phase to the moon.
This is the chart of BTCUSD Weekly RSI. The RSI has completed its cycle up and down. And now its time for Bitcoin to move upwards.
Merry Christmas & prosperity to yll
* Not an investment advice.
SEE YOU ON THE MOOOOOOOOOON
BTC is having a support line at $3800. Once this support is broken and if we get a confirmation below $3790, get ready to short bitcoin. The risk-to-reward ratio is pretty good.
* This info is not an investment advice.