Bitcoin Analyze (Road Map, 02/05/2023)!!!๐บ๏ธ
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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.๐
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 aโฐ timeโฐ 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.
๐กWhat is a Golden Crossโ๏ธโ๐ก
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.
โ๏ธNoteโ๏ธ: 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 โฐ.
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 โ ' like'โ button ๐๐ & 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.๐
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 aโฐ timeโฐ 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.
๐กWhat is a Golden Crossโ๏ธโ๐ก
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.
โ๏ธNoteโ๏ธ: 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 โฐ.
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 โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
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New update(TF=15min)
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Running wellโ
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Daily time frame.
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