BTCUSD may rise further.

6 בנוב׳ 2021

BTCUSD may rise further. Two orange squares are shown in the analysis. The correction wave sequences in the squares form fractals. Therefore, I assume that the second corrective fractal that is now forming may again develop into a rising wave sequence. This idea can be supported by the wave motion between the two white dashed lines. The two white lines are two ATR axes. They appear to strongly delimit the longer wave periods that have evolved. Therefore, as long as one of the two axes "supports" the wave motion, there is reason to believe that the next rise may occur. Current levels may be suitable for LONG directional entry. The STOP level could be around 54427 usd. The primary target price for the developing uptrend : 75437 usd Risk reward value of the trade : 2.14