Full wave and technical analys of bitcoin. TO THE MOON?
Updated
Hi, everybody. This is my final bitcoin trend analysis. I spent most of my time watching the situation for a month. Complementing it bit by bit. And so will begin the analysis and I'll try to convey my arguments at the beginning of the upward correction:
1) the End 2 ancient impulse wave. We have at least 2 waves. I run far enough, but this is my opinion at the moment. As you can see, the price couldn't break through this signal line and it has become our support.
3) according to the rule of alternation, everything was done, namely 2 wave was represented by a flat correction, 4 represented by a zigzag
4)according to the rule of elongation received 3 stretched wave relative to the first. Also the length of the 5th wave is relatively equal to the length of the 1st wave of the fall
5) Rule of pacenote. 5 standard truncated wave after a strong wave 3
6) the Rule of divergence on a reversal between waves 3 and 5. As you can see made
7) Rule of acceleration. The correction crosses the signal line faster than the formation time of the 5th wave. Done
8) Analysis of the internal structure corresponds to the end of the cycle
9) the Main criteria for the closure of the structure. Breakdown of the price signal lines
10)Volumes in the fall 2-4. I waited a few close to make sure he is right
11) the time factor on the basis of history. According to the statistics of the past fall in mid-April began bullish trend and crypto spring
12) breakdown of the downtrend channel of the Shifa
Initially I was distracted by the fact that in small structures the wave structure was not completed. And that is what I said expecting a 5 wave drop. But opening my old chart of alternative scenario I saw everything exactly corresponds to my thought. I will give this schedule in comments.
13) In turn you can see why we couldn't go below. The signal line was more important than the horizontal level
Also, I was hampered by the fact that we have not reached the level of wave 5, this factor has not been eliminated and is a stain in my thoughts, as well as bearish divergence on the chart at the moment
I don't do 100% of the conclusions, but merely gave you the facts. In turn, I am confident in the correctness of my analysis and will consider long positions. Also, it is not necessary now on the basis of my analysis, now to enter into a long position. How and when to enter a long position, we will consider the following ideas. Now it is important to analyze the younger time intervals. This idea will be very useful for investors and long-term traders. At the moment, there will soon be a rollback of the movement and correction on the 1H scale. That's what we're gonna use. Wait for the update.
Note
I spoke about this schedule of an alternative scenario
Note
I will update this Forecast
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