[07/31] Beast Trading _ Today's Bitcoin Perspective
[07/31] Beast Trading _ Today's Bitcoin Perspective
Yesterday, after Bitcoin showed a convergence form, it showed a high-point renewal and rising to 24.7k at once.
Since then, there has been a movement that has plunged more than $1,000, and the perspective on the future direction is likely to depend on how this decline is interpreted.
Now, to explain the most intuitive wave of all, we have one big rising wave, up to 24.7k, and this is the one that's in progress.
The adjustment wave consists of A/B/C, and it is predicted that yesterday's strong plunge will be A-wave, the current rise will be B-wave, and the subsequent decline to the trend line will be C-wave.
In addition, however, yesterday's fall will be the end of adjustment to the increase, and there will be a rise again or a deeper correction. There are many Elliott wave perspectives, so don't look at them as the main focus when you buy and sell, but just look at them to the extent that they have this perspective.
To analyze it with a more reliable and simple approach, it showed relatively small volumes compared to the amount that fell in volume. It's too small for the previous upside.
Through this, it can be judged that the trend is still in a strong upward trend, and the possibility of an upward trend is still open.
In addition, the trend line and the ferrel channel have not yet broken the upward trend, and they have been accurately supported by the ferrel channel break line.
So, I think positively about the rise until the ferrel channel and the black upward trend line hanging below it are broken!
Yesterday, after Bitcoin showed a convergence form, it showed a high-point renewal and rising to 24.7k at once.
Since then, there has been a movement that has plunged more than $1,000, and the perspective on the future direction is likely to depend on how this decline is interpreted.
Now, to explain the most intuitive wave of all, we have one big rising wave, up to 24.7k, and this is the one that's in progress.
The adjustment wave consists of A/B/C, and it is predicted that yesterday's strong plunge will be A-wave, the current rise will be B-wave, and the subsequent decline to the trend line will be C-wave.
In addition, however, yesterday's fall will be the end of adjustment to the increase, and there will be a rise again or a deeper correction. There are many Elliott wave perspectives, so don't look at them as the main focus when you buy and sell, but just look at them to the extent that they have this perspective.
To analyze it with a more reliable and simple approach, it showed relatively small volumes compared to the amount that fell in volume. It's too small for the previous upside.
Through this, it can be judged that the trend is still in a strong upward trend, and the possibility of an upward trend is still open.
In addition, the trend line and the ferrel channel have not yet broken the upward trend, and they have been accurately supported by the ferrel channel break line.
So, I think positively about the rise until the ferrel channel and the black upward trend line hanging below it are broken!
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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.
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.