I used Fibonacci, Elliott Wave and MACD, Candle Sticks to perform this TA.
We have had some awesome swing-back of BTC over the past two days which gained us 12%. The chart pattern indicates very strong evidence of Elliott Wave as I drew on the chart (Red thin lines and thick blue lines). On daily chart, in general, the bull is having some major resistance from the bear. The MACD and Candle Sticks have indicated strong evidence of the end of the 5th wave run as well.
To what extend BTC will correct? It is hard to say but I would expect the price is likely fall between 0.382 and 0.618 Fibonacci Level. I will further observe the price to have more evidence on this. Overall, the range for long is 7600 - 7200.
Hope a quick review and TA on BTC. Please like if you think it's useful.
Disclaimer: I am not a professional trader or technical analyst. This is a share of knowledge to the community not financial advice piece of work.
We have had some awesome swing-back of BTC over the past two days which gained us 12%. The chart pattern indicates very strong evidence of Elliott Wave as I drew on the chart (Red thin lines and thick blue lines). On daily chart, in general, the bull is having some major resistance from the bear. The MACD and Candle Sticks have indicated strong evidence of the end of the 5th wave run as well.
To what extend BTC will correct? It is hard to say but I would expect the price is likely fall between 0.382 and 0.618 Fibonacci Level. I will further observe the price to have more evidence on this. Overall, the range for long is 7600 - 7200.
Hope a quick review and TA on BTC. Please like if you think it's useful.
Disclaimer: I am not a professional trader or technical analyst. This is a share of knowledge to the community not financial advice piece of work.