Yesterday, the 5 waves were ended at $8240 and now correction waves are in progress. As the middle-term trend line(line along the 6k and 7.2k) is located, the price level $8240 acted as the major resistance. That's why the correction wave began at this level. To break the major level $8300, BTCUSD have to get force to jump up through this correction.
Now, the price is on the "B" wave in short term, and let's see how the wave goes.
Now, the price is on the "B" wave in short term, and let's see how the wave goes.
Note
update[BTCUSD] short-term scenario
BTCUSD is ongoing the correction, and some bullish patterns can be found in the short-term cycle. At this moment, this kind of pattern will be possible!
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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.