Bitcoin Bullish Elliot Wave - Possible 36% up to 31,500 USD 🚀🚀

1 באוג׳ 2022

Bitcoin pumped 7% after the bullish Supertrend Ninja - Clean signal (green vertical line on the background). In a possible bullish scenario Bitcoin might possible rise up to 31,500 USD completing leg C of the Elliot Wave (blue lines). Which is about 36% possible gain.

Bitcoin is looking to break out of the bullish Zone of the Ichimoku Cloud. The RSI is still in a range at 56. RSI Brown at 57. If we take a look at the Average Directional Index ( ADX DI) its indecisive, as it is ranging. Currently Bitcoin is above its Basis Bollinger Band , Band Basis 20 Period SMA . While it is below the LSMA. In short the technical indicators are indecisive as we are still in a range for Bitcoin on the 1 Day chart.

Remember to always take profits and use proper risk management!

Thank you for reading.
Namasté 🙏

Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.

What Indicators Do I Like To Use:
I am using the "Supertrend Ninja - Clean", which is a trend-following indicator (Green and red vertical lines on the background). When the background of the candlestick closes green (vertical line). It indicates a possible bullish (up)trend. And red for possible downtrends.