BTC WAVE ANALYSIS 9/2/23

2 ก.ย. 2023

BTC seems to have completed the wave 4 with price level right at the top of the high of wave 1 forming and forming a double bottom on daily charts, a nice inverted hammer candlestick on weekly charts too. I think BTC will rally a wave 5 target around around $37,000. Also note that indicators are at cycle lows on daily and weekly charts.
Please these are my thoughts and perspectives. Don't take a trade without your own due diligence. I will be updating the wave analysis as it develops. Cheers!!

2 ก.ย. 2023

บันทึก

This chart as of 9/2/23 is waiting for inverted hammer confirmation when price closes above $26.089.

4 ก.ย. 2023

บันทึก

Initial double bottom target is at $28,187 then final target $31,000.

10 ก.ย. 2023

บันทึก

Final update, BTC has completed the upward bounce and ultimate target missed because on the 1H time frame the bounce made it to the 38.2% fib retracement ($26,468) and I think that's the end of the move up from the double bottom. Next down target is at $18,056.