Here Is Why Bitcoin Could Follow The Same Accu-Schematic Now!

25 de ago. de 2020

Hello Traders Investors And Community,

Welcome to this analysis about why bitcoin could follow it's previous established accumulation-schematic now again just in a smaller amplitude and length. As bitcoin stopped primarily with its uptrend and now correcting it will show if this correction forms into a bigger pull-back or we get really the same accumulation schematic bitcoin provided already before it made its huge bounce above the massive 10.000 USD resistance. In this case, I detected some amazing similarities to the last accumulation-schematic and the next steps which can follow up over the course of next time into the completion of phase B which provided the confirmation to higher levels already in the last accumulation schematic.

Phase A:
As you can watch in the first accumulation schematic phase A marks the preliminary stopping of its established uptrend where it formed a wave-count of 4 consisting waves, the waves 1 and 4 forming an upper trendline and the waves 2 and 3 a lower trendline, these lows and highs forming somewhat of a wedge-formation and marking the follow through to the next steps in the structure, bitcoin has formed exactly the same formation with the consisting steps a second time now just with a smaller amplitude and length as you can watch it in my chart the steps reaching from 1 to 4 are exactly the same as in the first accumulation schematic, this recognition offers a solid understanding of the next phases playing out similarly to the first accumulation schematic.

Phase B
In this phase bitcoin provided coherent steps to finally confirm the whole accumulation schematic, this phase is consisting of a wave count reaching from A to E with a wave count of three waves to the downside following by three waves to the upside till the wave counts end together with the 500-EMA touch and bounce from there. Till now bitcoin offered nearly the same procedure into the wave B in its schematic where the move below the rising trendline formed in phase A initiated also the next steps finishing wave A and starting wave B as you can watch it marked in my chart, as bitcoin provided now the same steps there is a solid possibility given that it will continue in this manner and form the next waves in the structure B to complete the whole dynamic.

Taking all these factors into consideration we have a fractal developing here which has high potential to form as the first one and show the same outcome likely in the structure, which will confirm when bitcoin ends up with the final wave E and bounces from the 500-EMA marked in orange, in this case, it is important that bitcoin does not fall below the 500-EMA again which can possibly follow through with increased bearish pressure that can alter the established fractal dynamic and show an anomaly to the first fractal possible is also a longer wave count to the downside where the waves getting bigger in amplitude before finishing, nevertheless, bitcoin has also some solid supports further down in the structure which also confirming these scenarios which can exclude a complete bearish market next times and playing more into the accumulation schematic dynamic.

In this manner, thank you for watching, support for more market insight, all the best!
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Information provided is only educational and should not be used to take action in the markets.