[08/08] Beast Trading _ Today's Bitcoin Perspective
Beast Trading _ Today's Bitcoin Perspective
Bitcoin has been making a long sideways move since August 6th, and has shown a little difficulty in wave counting by giving a fake.
First of all, I keep talking about the increase from 20.7k to 24.6k, but it seems like an impulse increase. The volume of transactions of 3 waves also occurred a lot, and the raised shape was similar to that of the standard impulse, so 20.7k to 24.6k were assumed to be impulses.
After that, adjustment usually occurs after the impulse rise (mostly consists of three waves: A/B/C)
I think the direction will vary depending on these two points of view whether the adjustment A, B, and C waves are all produced in the green box section or the adjustment A wave consisting of ABC.
If all of the former A, B, and C waves come out, it can be interpreted that the adjustment is over, so a strong rise with strong trading volume can occur afterward.
However, considering the sideways movement over the weekend, the shape of the wave, and the volume of the transaction, there was no strong rise, and I thought it was likely to be a B wave that tends to slow down and move sideways.
So we are predicting that the green box will adjust A wave, the yellow box will adjust B wave (in progress), and the blue box will complete C wave, and the adjustment will come out a little deeper.
I'm looking at 21.5k for the seats where the adjustment ends. (0.786 digits of the increment from 20.7k to 24.6k, where the values of A and C are 1:1)
Bitcoin has been making a long sideways move since August 6th, and has shown a little difficulty in wave counting by giving a fake.
First of all, I keep talking about the increase from 20.7k to 24.6k, but it seems like an impulse increase. The volume of transactions of 3 waves also occurred a lot, and the raised shape was similar to that of the standard impulse, so 20.7k to 24.6k were assumed to be impulses.
After that, adjustment usually occurs after the impulse rise (mostly consists of three waves: A/B/C)
I think the direction will vary depending on these two points of view whether the adjustment A, B, and C waves are all produced in the green box section or the adjustment A wave consisting of ABC.
If all of the former A, B, and C waves come out, it can be interpreted that the adjustment is over, so a strong rise with strong trading volume can occur afterward.
However, considering the sideways movement over the weekend, the shape of the wave, and the volume of the transaction, there was no strong rise, and I thought it was likely to be a B wave that tends to slow down and move sideways.
So we are predicting that the green box will adjust A wave, the yellow box will adjust B wave (in progress), and the blue box will complete C wave, and the adjustment will come out a little deeper.
I'm looking at 21.5k for the seats where the adjustment ends. (0.786 digits of the increment from 20.7k to 24.6k, where the values of A and C are 1:1)