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BTC Wave-by-Wave Analysis 1: Bullish Scenario

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BINANCE:BTCUSDT   Bitcoin / TetherUS
This post will be the start of my wave-by-wave analysis of BTC and soon will add more coins preferably the large-cap coins.

The retracement at 37K is an acceptable price for wave 2 of the bullish scenario which is between 0.5-0.618 of the Fibonacci retracement area. BTC is currently making an impulsive 3rd wave (ongoing) and may reach as high as 41944.89, Current pump is wave 1 of wave 3. The short-term price projection for the internal 5th wave of wave 1 of the 3rd wave is at 42K-43K and may retrace around 38.6K-39.6K. The invalidation of this short-term projection is at 37934.89. Conservative wave 3 completion would be around 50K-52K.

As I have mentioned in my previous post, I am technically bullish unless my technical analysis is invalidated.


Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.