INJ Bull Run Started or Not ?In my point of view INJ has two scenarios at the current market price. That is it can be the 3rd wave or the flat correction of 2nd wave. More likely to be a 3rd wave let's see
Bulrun
Bitcoin technical analysis _ 2023-10-26
Long position
After breaking the resistance at the price of 24851
Entry 35170
The loss limit is 34,200
Risk Free 36145
Saving profit 37110
Profit limit 37645
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Short position
After breaking the upcoming support and breaking the short-term uptrend line and also after breaking the important support at the price of 33645
Entry 33355
The loss limit is 34,200
Risk Free 32512
Profit limit is 31600
$BTC topping out to correction before BULLs take over againOn todays chart we have defined the major waves that are creating the $BTC fluctuations.
The strongest wave is 20W (140D) according to a great tool "DFT - DC Period 8-50 - John Ehlers " .
We have drawn this cycle on the chart along with its harmonics, which clearly synchronise with the main wave.
From the analysis we expect now a final rise lasting to 25-27th of February 2023.
After that we should see little stabilisation for one week, then followed by stronger correction between 6-20th march 2023.
The drop will be significant however we are still on the rising trend of the major 20M (80W) so after 20th of march we should get into new highs.
BTC: Bullrun not before February !#BTC/USDT Update:-
$BTC currently trading at $46000
1. The 50MA in 4h chart did not hold
2. It seems that we are going to the Wickoff's spring around 43K (0.382fib) where we can entry for a short run till 53K (0.618fib) before being rejected by the 200MA
3. The consolidation phase will last a while (same if we compare to may 2021) before the 50MA cross the 200MA. We will navigate around the 0.382fib probably till end of January, beginning of February where we will see a big bullrun.
Short term - 43k
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Bitcoin Major ABCD Pattern (MAJOR TREND IDENTIFICATION)
Personally, I believe Bitcoin is following the ABCD pattern shown below. At the second bull run, the price peaked perfectly at the 61.8% fib level and almost immediately bounced off,
Both this and the fact that the price has followed the C-->D line has led me to believe that the price is following a hybrid ABCD pattern and the D point will bounce off the 71.8% fib (marked D) either shortly after, or directly on the halving and a bull run will follow (up to $90,000-$100,000).
If the major support zone is broken (shown as the red zone) it will further prove my point that bitcoin will crash further (continuing current trend) prior to the halving.
Ofcourse is it speculation, a hybrid ABCD pattern is uncommon but the price has followed the pattern almost exactly.
