BTC in critical zone!
Hey guys. I was away for a week and when I came back I didn't see anything different with BTC. Nothing at all, how curious!
Long-term trends have not yet fully reversed. For the moment it seems to me that short-term buyers are the ones holding this hot potato in their hands. Once again, how curious.
If I consider Elliott's movements we have the image below as a reinforcer for the future of BTC.
Let's go back in time a little by looking to the left of the graph and observing what happened in the past.
As I like to use graphical analysis, we had SETUP used to point out this downward pivot on the monthly chart. The most interesting thing is to see that prices are respecting the golden region of movement (1,618) as a support point in the 18K region.
Returning to the present, we have prices working below the long average, after being above it for more than 6 months. That's not a good sign.
The movement that is shaping up for the moment is the prices trying to escape something worse, wanting to rebound upwards to the 27.6K region and the salvation zone for the moment is not losing the 25.2K region and the prices remain above the 28K region.
It's worth reading!
Do your analysis and good business.
Be aware, if you buy, use stop loss!
See other graphical analyzes below.
Long-term trends have not yet fully reversed. For the moment it seems to me that short-term buyers are the ones holding this hot potato in their hands. Once again, how curious.
If I consider Elliott's movements we have the image below as a reinforcer for the future of BTC.
Let's go back in time a little by looking to the left of the graph and observing what happened in the past.
As I like to use graphical analysis, we had SETUP used to point out this downward pivot on the monthly chart. The most interesting thing is to see that prices are respecting the golden region of movement (1,618) as a support point in the 18K region.
Returning to the present, we have prices working below the long average, after being above it for more than 6 months. That's not a good sign.
The movement that is shaping up for the moment is the prices trying to escape something worse, wanting to rebound upwards to the 27.6K region and the salvation zone for the moment is not losing the 25.2K region and the prices remain above the 28K region.
It's worth reading!
Do your analysis and good business.
Be aware, if you buy, use stop loss!
See other graphical analyzes below.
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