For the present day, I think the best way to analyze BTC is on the weekly and monthly chart. Shorter times can present a lot of noise and can make the study unfeasible and cause losses.
The price of bitcoin is well drawn on the weekly chart and I really believe in the idea that I am presenting now, my trades are based solely on that idea. Input...
OPEN THE IMAGE AND USE THE SCALE ON YOUR RIGHT SIDE AND BELOW TO IMPROVE THE VIEW!
I am very optimistic that the projection described in the image will materialize.
In a macro view we are in a low channel (blue), but inside that channel we are making an upward curve in a high channel (orange) that is going to get the top of the channel.
For a short period of...
Modesty aside, the wave analysis was perfect! See the first post on 07.16.2020
All targets were hit and whoever followed them made an incredible profit!
I believe in a short-term correction of the cycle, but in a more forest and less tree view the GBPUSD pair will continue to grow.
Retractive wave 2 corrected a little more than expected compared to my previous analysis.
Fortunately none of the entry targets have been reached. That analysis is out of character and this becomes effective.
We are at the beginning of Elliot wave 3.
The safest entry is at the break of the pivot, according to the second entry shown in the image.
Updating the EURGBP version.
Taking into account an extensive wave 1, I believe that wave 3 will not have the strength to reach 1,618% of Fibo, although this can happen.
For the rest, the same idea as the previous analysis!
The price broke through LTB and the process of forming the bullish pivot started. With application of Fibonacci and Elliot everything indicates a bullish movement.
ADX reports that there is no strong trend at the moment, which is why recommend conservative entry.
Wave one ended. Now we are in a process of retraction, that is, we will have a drop down to the region of 0.5% Fibo (wave two).
In the magic square, monitor the price and make the purchase to bull market when the third wave starts.
Until Friday I believe the targets will be hit.