This is an update to recent BTC analysis.
At 4-hour timeframe we can see that the price went out of the local descending channel via impulse growth waves. Subsequent corrective Elliott ABC movements brought the price at the upper edge of the channel.
If we take a closer look it can be seen that there are several positive signs:
1. Stoch RSI moves to Oversold zone
2. EMA 20 line which was a resistance after Moving Averages intersection became a support which is great for short term
3. After consolidation the price went up again which can be evaluated as 0-1 Impulse wave and the most important is that it bounces above the critical area where this assumption will be rejected.
Conclusion: if the price manages to bounce above $4 200 then we will have a new 5 impulse growth waves. Otherwise previous analysis holds and there should be movement to finish IHS
At 4-hour timeframe we can see that the price went out of the local descending channel via impulse growth waves. Subsequent corrective Elliott ABC movements brought the price at the upper edge of the channel.
If we take a closer look it can be seen that there are several positive signs:
1. Stoch RSI moves to Oversold zone
2. EMA 20 line which was a resistance after Moving Averages intersection became a support which is great for short term
3. After consolidation the price went up again which can be evaluated as 0-1 Impulse wave and the most important is that it bounces above the critical area where this assumption will be rejected.
Conclusion: if the price manages to bounce above $4 200 then we will have a new 5 impulse growth waves. Otherwise previous analysis holds and there should be movement to finish IHS
Nota
#BTCUpdate
Subsequent 5 impulse growth waves are canceled.
Further, the price will follow the first analysis, which can be found on TradingView:
ru.viewing.com/chart/BTCUSDT/R4ARekQf-btcusd-kratkosrochnyj-i-srednesrochnyj-analiz-dvizheniya-tseny/
Use the primary analysis which can be found in related ideas
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Access private PineScript strategies and turn alerts into orders with easy-to-set up bots
Trade smarter with:
skyrexio.com
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skyrexio.com
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.