BTC WAVE ANALYSIS 9/2/23
Updated
BTC seems to have completed the wave 4 with price level right at the top of the high of wave 1 forming and forming a double bottom on daily charts, a nice inverted hammer candlestick on weekly charts too. I think BTC will rally a wave 5 target around around $37,000. Also note that indicators are at cycle lows on daily and weekly charts.
Please these are my thoughts and perspectives. Don't take a trade without your own due diligence. I will be updating the wave analysis as it develops. Cheers!!
Please these are my thoughts and perspectives. Don't take a trade without your own due diligence. I will be updating the wave analysis as it develops. Cheers!!
Note
This chart as of 9/2/23 is waiting for inverted hammer confirmation when price closes above $26.089.Note
Initial double bottom target is at $28,187 then final target $31,000.Note
Final update, BTC has completed the upward bounce and ultimate target missed because on the 1H time frame the bounce made it to the 38.2% fib retracement ($26,468) and I think that's the end of the move up from the double bottom. Next down target is at $18,056.
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