After breaking the important downward trend line, Bitcoin seems to have passed the main corrective wave A and is on the way to completing the main corrective wave B.
If you are curious about the structure of the main wave A, I suggest you take a look at the following post.ð
If you pay attention to the microwaves on the daily time frame, you will notice that Bitcoin has passed microwave 3, and since microwave 2 was a price correction, I expect microwave 4 to experience aâ° timeâ° correction.
I marked the end of microwave 4 (zone) on the chart.
We can also consider microwave 4 as a pullback to the broken important downtrend line.
The interesting point is that SMA50 and SMA200 are creating one of the famous signals, the Golden cross.
ðĄWhat is a Golden CrossâïļâðĄ
A Golden Cross is a basic technical indicator that occurs in the market when a short-term moving average (50-day) of an asset rises above a long-term moving average (200-day). When traders see a Golden Cross occur, they view this chart pattern as indicative of a strong bull market.
âïļNoteâïļ: Be sure to follow me in the next post; I will talk more about Bitcoin's bullish signs, targets, etc.
Bitcoin Analyze ( BTCUSDT ), Daily time frame â°.
Do not forget to put Stop loss for your positions (For every position that you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
If you are curious about the structure of the main wave A, I suggest you take a look at the following post.ð
If you pay attention to the microwaves on the daily time frame, you will notice that Bitcoin has passed microwave 3, and since microwave 2 was a price correction, I expect microwave 4 to experience aâ° timeâ° correction.
I marked the end of microwave 4 (zone) on the chart.
We can also consider microwave 4 as a pullback to the broken important downtrend line.
The interesting point is that SMA50 and SMA200 are creating one of the famous signals, the Golden cross.
ðĄWhat is a Golden CrossâïļâðĄ
A Golden Cross is a basic technical indicator that occurs in the market when a short-term moving average (50-day) of an asset rises above a long-term moving average (200-day). When traders see a Golden Cross occur, they view this chart pattern as indicative of a strong bull market.
âïļNoteâïļ: Be sure to follow me in the next post; I will talk more about Bitcoin's bullish signs, targets, etc.
Bitcoin Analyze ( BTCUSDT ), Daily time frame â°.
Do not forget to put Stop loss for your positions (For every position that you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
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New update(TF=15min)
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Daily time frame.
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