BTC chart insights

23 Jul 2024

https://www.tradingview.com/x/mL1ar1xP/
🎙️ Hi, Guys!

💭 The chart shows a completed 5-wave impulse, indicating the end of a short-term uptrend.

🗯️ I'm waiting for BTC to hit the 0.382 Fibonacci retracement level around $63,000. Below the 0.382 level, strong support areas are at the 0.5 and 0.618 Fibonacci retracement levels, which is approximately $60,000 and $58,500.

💡I am looking for buying opportunities in the $63,000 to $58,500 range with a view to further expansion to the top.

Shaka 🤙

BTCUSDT BTCUSDT BTCUSDT BTCUSDT

24 Jul 2024

Nota

A correction is brewing in the designated areas. If ma-20w is broken, the downward movement may accelerate. The shooting star candle appeared on a volume above average, which confirms the chart vector for a local downside.

25 Jul 2024

Nota

💭Yesterday's update worked

💡At the moment we have received one simple downside zigzag. The correction could end here in theory, however, this is not the base scenario for me.

⌛️I prefer to wait for confirmation and allow the development of a double or even triple zigzag, because second waves are often sharp and correct the previous impulse by 62 percent.

One of the last four-hour candles represents a wide spread on increased volume, which from a price action point of view confirms the chart’s intention to continue its downside movement.

Additionally, we should consider the stock market environment where we are seeing blood 🧸

Who knows, maybe the conference in Nashville will make its own adjustments 🤔

28 Jul 2024

Nota

🚀 I am convinced that Bitcoin will soon reach a new all-time high (ATH), but the path of the samurai may not be easy 🥷

💡Looking at the recent chart, it is clear that the price jump from July 25 to July 27 was an impulse. This brings us to two possible scenarios:

1 - Continuation of the Uptrend - BTC could continue its upward momentum directly from the current levels.
2- Flat Correction (eFL or rFL) - BTC might be forming a corrective wave "b".

In any case, BTC is on its way to reaching new ATH levels. The only question is whether this will happen from the current price or through a more serious correction to 0.618 Fibonacci.

Shaka 🤙

31 Jul 2024

Dagangan ditutup: sasaran tercapai

I am closing the current idea, since the target of around 70 k has been achieved. A further update in the markup will be in a new idea.

Shaka 🤙