Cycle Analysis and Elliott waves.
The target is around $ 1000.
The target is around $ 1000.
Note
I will do a macro analysis update soon.There are different macrocycles playing out that affect Bitcoin.
Note
Short-term update there is a Fibonacci algorithm path with an over 80% probability to play out based on that I am expecting ~42k then ~73k.Note
Pitchforks adjusted:s3.tradingview.com/snapshots/w/wlpcJYIh.png
Note
The Fibonacci algorithm is doing the selling finally we are getting closer to the buy zone.Note
That is a strong reaction from the Fibonacci algorithm confluence zone.s3.tradingview.com/snapshots/w/wymRxVeH.png
Note
Note
There is a slight break of the square root of 0.5 if I pull the Fibonacci algortithm from the old pivot. If we pull it from the lowest pivot before the rise the square root of 0.5 did actually hold: I will wait and see what price does it is too early to call.
If the lowest pivot does not hold then the most domiant algorithm from the major swing low to the major swing high needs to hold:
Note
Lost the buying algorithm from the lowest recent pivot!BTC needs to reverse above the red line to remain bullish:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.