BTC/USD, W1 - harmonic pattern continuation
The price of BTC/USD has increased after a potential harmonic pattern which was described in the previous analysis. The potential resistance has been broken at 6515 USD and currently, the next one could be located near the line drawn through the tops as an upper limit in the downward channel.
However, if it is broken we could expect another potential rally as a new impulse wave after a large correction.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
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However, if it is broken we could expect another potential rally as a new impulse wave after a large correction.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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