Omid
SRM NEW ADVANCED ANALYSIS !!!As I mentioned on the previous post about Bitcoin, there is a strong correlation between total index and the altcoins.
-Total
Stay patient for better entry after breaking the gray box...
- 2 ESSENTIAL SCENARIOS ON BITCOIN -As you can see in the chart above, the price has reached the bottom of our hypothetical channel and formed an important PRZ area. There are two possible scenarios for Bitcoin:
1) Ascending scenario (1) - in case of failure of the resistance dynamic line.
2) Downside Scenario (2) - If the price stabilizes below $ 34,300.
--------------------
-4H Chart
In any case, we will wait for the trigger and trade in the direction of the trend ...
*WHOLE MARKET ON YOUR EYE! @_@This bullish scenario is expected while I see some essential factors supporting it!
-----------------------------
1. DXY ( Dollar Currency Index )
Seems it has completed the wave (5) while has touched the recent resistance area in weekly time frame.
( DXY downtrend = Market uptrend )
-----------------------------
2. TOTAL
Based on the price action method, Total has made an invalidated LL and converted the whole trend from downtrend to uptrend! And now is on a powerful demand area.
-----------------------------
3. BTCDOWN
BTCDOWN has been involved with an empowered supply zone.
( BTCDOWN downtrend = Market uptrend )
-----------------------------
-Thanks-