WE ARE FORMING AN ELLIOT WAVE ON BITCOIN
WE HAVE JUST HIT THE 61.8 MARK ON FIB LEVEL AND A RESISTANCE HAS BEEN SHOWN
WE HAVE BROKE THE BEARISH TRENDLINE THEREFORE I AM ONLY FOR BUY TRADES
I WILL WAIT FOR A PULLBACK AT THE NUMBER (4) LEVEL ON THE ELLIOT WAVE WHICH ACTS AS PREVIOUS RESISTANCE LEVEL, WHICH SHOULD TURN INTO A NEW SUPPORT LEVEL
FROM THE 4145.00...
USDTRY 2.5% band sideways. The exchange rate may begin to move in a descending speed band. I look forward to building the band within the yellow rectangle. Then I assume a stronger upward movement. The target price can be 6,3300usd. From the bottom of the bar, this is an increase of almost 11.56%. Up to one week short position can be taken from the current level...
Quick pullback trade to the daily Fib 0.618 level marked on the chart.
4hr bullish TL broken and retested.
Daily timeframe candlesticks closing bearish .
Price is rejecting the 1.6750 resistance zone .
Based on the previous analysis, the probable technical correction -8% also arrived exactly. It is therefore advisable to think about taking an additional long position. The exchange rate continues to inverse wave motion on the wave axis. If this is the case, the target price may be raised to 310 usd. A 13% increase from the current level.
The exchange rate comes to the limit of 15% indicated in the previous analysis. From the 1.42 usd level, you can pick up a rising position. The rise can be determined by the fracture formed on the ATR axis. In my opinion, a reversed fractal wave can be built. The target price is 2.30 usd.
I expect an additional rise. We can see the evolution of the inverse fractal outlined in the previous analyzes. It is worth trading in the future. I'm not changing the previous target prices either. In case the exchange rate changes, I analyze it again.
The ATR's second ATR axis became flatter. Probably, this exchange rate axis may be the wave of the next wave motion wave. As shown. I assume the construction of the double wave structure is further. The target price is 14.31 usd.
The goal of the current exchange rate rise is 66.2 usd. Unlike the previous analysis, I put it slightly higher. Accordingly, I expect a reduction in correction motion of 58.7 usd. This is a nearly 11% decrease. If the predetermined movement occurs, then there is a high chance of a further rising wave system. The target price is 80USD. An additional increase of...
The exchange rate on the ATR axis (white dashed line) creates a fractal motion. Of course, due to the underlying wave structure, I expect an inverse appearance. The exchange rate target price is 12.81 usd.
The ATR axis of the exchange rate is shown in the analysis. The slope of the rising ATR axes is increasing, predicting an acceleration of the exchange rate. The current rising wave structure target price is 39 usd. I expect a correction from that level. To be continued.
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If we look at the graph of BPMX, it is obvious that the exchange rate moves with a falling ATR. Wave and fractal structures can be identified behind the decreasing ATR. Visible (yellow square) is currently the last wave structure. The next structure, assuming a fractal structure is built up, can be double. The figure shows that the decreasing ranges consisted of...