(Time Wave Analysis) Bitcoin update

[forex4you]

(Time Wave Analysis) Bitcoin update

(Time Wave Analysis) Bitcoin update

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

TimeWaveTrading

Hello.

If you are a bitcoin trader even on weekends, it would be a good reference.

First scenario:
Bitcoin will have a very nice expanded flat pattern if an additional daily support line is created (a new daily correction trend line ), so at least the right wing or an upward wave that could renew the highs could come out.

If there is no further uptrend after renewing the high, a weekly correction occurs again, which can also become a large expanded flat pattern. Then the market could see another daily uptrend to rebuild the right wing.

In the end, the entire pattern will be in the form of a monthly correction of the Zig-Zag pattern. Bitcoin is in a downtrend while making a monthly correction, so it is likely to peak in March and come down to test the bottom again.

Second scenario:
If the current position fails to draw an additional daily support line, if the price declines further, it becomes a correction pattern, so it can be followed by a downward wave, or it can be changed to a correction of the W-X-Y pattern.

If you want to buy, be sure to set a stop loss line.
That is all.

Source: (Time Wave Analysis) Bitcoin update