BTC New Update (8H)

2 May

This analysis is an update of the analysis you see in the "Related publications" section

In the previous scenario, we considered that Bitcoin was in a diametric where wave E had extended. However, after reviewing the charts and analyzing various scenarios, we decided to revise the wave count as shown in this update, since wave E of the previous diametric scenario became overly extended.

You can see the complete wave count of the chart in this update. The correction in Bitcoin started from the point where we placed the red arrow on the chart. This correction was a diametric and ended where the green arrow is placed.

From the point where the green arrow is shown on the chart, Bitcoin's bullish wave has started, which is either wave A or W.

According to this scenario, the expected rejection zone should be between 98K and 103K.

The lowest-risk area for price rejection is the red box.

A daily candle close above the invalidation level will invalidate this analysis.

Let’s see what happens.

For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You

7 May

İşlem elle kapatılmış

new update :