BTC. I am waiting for the end of the fall at $ 4750.
After a long consolidation, which began in late 2018, sellers were able to break the triangle down. The sharp drop was due to the fact that:
1) Stop-loss of buyers and their positions began to close at the market price
2) sellers after a long systematic closing of marginal positions began to actively open them:
After the start of the fall, the buyers initially closed their positions, and then began to increase x as well:
Now the price is approaching the bottom of the wedge trendline, in which btc is traded from March 2018.
However, I think that after the consolidation, which lasted for 3 months, it is possible to break this wedge down. Moreover, if we analyze horizontal volumes, at $ 5550 there is not much liquidity to stop the fall, but a rebound is possible.
My global target is $ 4750. If my wave analysis is correct, then the price is $ 4750 global C = 0.5A:
And the wave c = 0.618a:
Also, in this price zone there is enough liquidity to stop the fall and start growth.
The first target of $ 7500 growth (correction of 0.618 from the global wave C). And then I will analyze it as the script is worked out.
Of course, I will wait for confirmation of this analysis by volumes, since without them we will again be in long consolidations, as before the present fall.
1) Stop-loss of buyers and their positions began to close at the market price
2) sellers after a long systematic closing of marginal positions began to actively open them:
After the start of the fall, the buyers initially closed their positions, and then began to increase x as well:
Now the price is approaching the bottom of the wedge trendline, in which btc is traded from March 2018.
However, I think that after the consolidation, which lasted for 3 months, it is possible to break this wedge down. Moreover, if we analyze horizontal volumes, at $ 5550 there is not much liquidity to stop the fall, but a rebound is possible.
My global target is $ 4750. If my wave analysis is correct, then the price is $ 4750 global C = 0.5A:
And the wave c = 0.618a:
Also, in this price zone there is enough liquidity to stop the fall and start growth.
The first target of $ 7500 growth (correction of 0.618 from the global wave C). And then I will analyze it as the script is worked out.
Of course, I will wait for confirmation of this analysis by volumes, since without them we will again be in long consolidations, as before the present fall.
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🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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