BTC ANALYSIS (8H)
Updated
From where we put the red arrow on the chart, it looks like a symmetrical (corrective) pattern is formed on the chart.
According to the waves, it seems that we are in the last wave of this symmetry (wave i).
We expect an upward price rejection from the green range.
Most likely, this bullish movement will be an x wave, which means that it will not be a powerful movement.
We also expect downward price rejection from the supply box.
The complexity of the chart is high, observe capital management in your trades.
Closing a daily candle below the invalidation level will violate this view and analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
According to the waves, it seems that we are in the last wave of this symmetry (wave i).
We expect an upward price rejection from the green range.
Most likely, this bullish movement will be an x wave, which means that it will not be a powerful movement.
We also expect downward price rejection from the supply box.
The complexity of the chart is high, observe capital management in your trades.
Closing a daily candle below the invalidation level will violate this view and analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
Order cancelled
Bitcoin did not reach our low risk buying range, but our bullish view on Bitcoin was correct and it reached our supply.
We are not looking for sell/short setups on Bitcoin yet.
In the next analysis, we will update Bitcoi
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