[08/16] Beast Trading _ Today's Bitcoin Analysis
Beast Trading _ Today's Bitcoin Analysis
Bitcoin broke through 25k again yesterday and renewed its high point.
Since then, Bitcoin prices have fallen sharply under strong selling pressure, and I analyze that this drop, which has fallen from 25.2k to 23.7k, is an impulse wave.
It was analyzed that the impulse 5 wave was terminated due to a 4-wave convergence due to a drop in the impulse and a move to break the all-low point after that.
Since it accurately rebounded from the previous low of 23.5k to the high point of 0.886 Fibonacci, it is likely to support the view that the short-term downward trend is over.
From a bigger point of view, we're now moving in a large B wave, and since the start of the A wave was an increase, the B wave is going to fall to some extent and then rise to about 27k as a C wave.
Today's response may be somewhat higher due to yesterday's fall, but it may be a little difficult to move to renew the high point at once.
I don't think I can specify the long position or the short position. I think it would be good to take a position with good profit and loss for each important section and respond in that direction!
Bitcoin broke through 25k again yesterday and renewed its high point.
Since then, Bitcoin prices have fallen sharply under strong selling pressure, and I analyze that this drop, which has fallen from 25.2k to 23.7k, is an impulse wave.
It was analyzed that the impulse 5 wave was terminated due to a 4-wave convergence due to a drop in the impulse and a move to break the all-low point after that.
Since it accurately rebounded from the previous low of 23.5k to the high point of 0.886 Fibonacci, it is likely to support the view that the short-term downward trend is over.
From a bigger point of view, we're now moving in a large B wave, and since the start of the A wave was an increase, the B wave is going to fall to some extent and then rise to about 27k as a C wave.
Today's response may be somewhat higher due to yesterday's fall, but it may be a little difficult to move to renew the high point at once.
I don't think I can specify the long position or the short position. I think it would be good to take a position with good profit and loss for each important section and respond in that direction!