This analysis is only a personal analysis (update 22).
Unchanged text:::
Is the $6,000 target within reach?
Currently, the main two targets for Bitcoin have been activated for the possible end of the correction in at least 10 months 1. Target range 14500 2. New target 6000 to 7000
Don't be fooled by the positives ahead, we have a connecting step ahead and a kind of pullback to the broken channel to complete the movement of the X wave and then to the bottom of the channel to complete the last correction wave.
Divergences:
No positive divergence is observed in the weekly time frame
No positive divergence is observed in the daily time frame
We have a positive divergence in the 4-hour time frame, so the upward movement will be appropriate for this time frame chart
Analytical tools:
Elliott waves
Classic channeling
Fast rsi indicator
Time analysis on waves
Assumptions of the analyst:
In this analysis, it is assumed that we are in the middle of a major Bitcoin correction cycle, and after that we will be ready for a big move in digital currencies (at least 10 months from now).
According to the compatibility of the charts, the analyst is considering a floor of 14,500 to 15,500, and after that, the possible start of a new move.
The interface step is particularly important:
1. If the interface step moves to the ceiling of the parallel channel, we do not expect the next movement of a sharp drop in Bitcoin, that is, if Bitcoin can reach the numbers around 32000 after reaching 18,000, the next moving step of the Bitcoin drop is an ABCD It is bearish that does not go below 14500 or makes a small move with a shadow and recovers quickly.
2. The second situation, which is very dangerous, is that according to the fractal rule of channels, after reaching 18,000, it cannot stabilize more than 28,000. In this case, the possibility of breaking the parallel channel of the second fall becomes stronger, and here the target of 6,000 is active for Bitcoin. cab be
So right now, the best way to take short-term swings is based on whatever style you follow
In the end this is a personal analysis and there is no certainty in doing or not doing it.
Unchanged text:::
Is the $6,000 target within reach?
Currently, the main two targets for Bitcoin have been activated for the possible end of the correction in at least 10 months 1. Target range 14500 2. New target 6000 to 7000
Don't be fooled by the positives ahead, we have a connecting step ahead and a kind of pullback to the broken channel to complete the movement of the X wave and then to the bottom of the channel to complete the last correction wave.
Divergences:
No positive divergence is observed in the weekly time frame
No positive divergence is observed in the daily time frame
We have a positive divergence in the 4-hour time frame, so the upward movement will be appropriate for this time frame chart
Analytical tools:
Elliott waves
Classic channeling
Fast rsi indicator
Time analysis on waves
Assumptions of the analyst:
In this analysis, it is assumed that we are in the middle of a major Bitcoin correction cycle, and after that we will be ready for a big move in digital currencies (at least 10 months from now).
According to the compatibility of the charts, the analyst is considering a floor of 14,500 to 15,500, and after that, the possible start of a new move.
The interface step is particularly important:
1. If the interface step moves to the ceiling of the parallel channel, we do not expect the next movement of a sharp drop in Bitcoin, that is, if Bitcoin can reach the numbers around 32000 after reaching 18,000, the next moving step of the Bitcoin drop is an ABCD It is bearish that does not go below 14500 or makes a small move with a shadow and recovers quickly.
2. The second situation, which is very dangerous, is that according to the fractal rule of channels, after reaching 18,000, it cannot stabilize more than 28,000. In this case, the possibility of breaking the parallel channel of the second fall becomes stronger, and here the target of 6,000 is active for Bitcoin. cab be
So right now, the best way to take short-term swings is based on whatever style you follow
In the end this is a personal analysis and there is no certainty in doing or not doing it.