Hello traders and investors,
In today analysis we focus on the last couple of waves in BTC. Regardless if we are observing impulse of ascending correction, as far as I am concerned the trend is up.
As far as this chart is labelled, as much as I would like to see the uptrend resumed after the July low, at the moment I am not too sure that we can say so.
The vertical line on the chart 0.382 and 1 define the Fibonacci Time spent in "wave 4" compared to "wave 2", so if wave 4 completed in July, it means that it spent 38.2% of the time to complete wave 2. Is this possible? I doubt it, but this market is pushing for a new all-time high every day.
Let's keep our fingers crossed that we are not in a gigantic running triangle(hence Wave B above the prev. all-time high).
I link the long term analysis with the wave count on weekly/monthly.
As usual, I can be wrong, but I don't really care because I keep them as long term investments.
Hope you all make money 😊
In today analysis we focus on the last couple of waves in BTC. Regardless if we are observing impulse of ascending correction, as far as I am concerned the trend is up.
As far as this chart is labelled, as much as I would like to see the uptrend resumed after the July low, at the moment I am not too sure that we can say so.
The vertical line on the chart 0.382 and 1 define the Fibonacci Time spent in "wave 4" compared to "wave 2", so if wave 4 completed in July, it means that it spent 38.2% of the time to complete wave 2. Is this possible? I doubt it, but this market is pushing for a new all-time high every day.
Let's keep our fingers crossed that we are not in a gigantic running triangle(hence Wave B above the prev. all-time high).
I link the long term analysis with the wave count on weekly/monthly.
As usual, I can be wrong, but I don't really care because I keep them as long term investments.
Hope you all make money 😊
주문취소됨:
General idea is still valid but the wave labelling needs to be amended
코멘트:
It looks like it wasn't so wrong the initial idea
