I count BTC as having completed Wave III. Wave IV is an A-B-C consolidation that ended at around 53,500 on July 5, 2024. We are now in Wave V up. We have completed Wave 1 of V and are now in Wave 2 of V consolidation. Wave 2 of V might have ended today at just below 200 DMA or it might end at 61.8% retracement level at 59,850 ish, or it may drop to the bottom line of the fork. After Wave 2 completes, Wave 3 UP will start and be quite impulsive.
This view is invalidated if BTC breaks below 53,500, in which case we're still in Wave IV consolidation.
This view is invalidated if BTC breaks below 53,500, in which case we're still in Wave IV consolidation.
Nota
BTC came down and touched the bottom line of the pitchfork. If BTC is still in an uptrend, then a re-touch of that bottom line is a long entry with a stop loss at a few points below today's low, targeting the middle line.Nota
53,500 breached so still in Wave IV consolidation, probably in Wave C.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.