This analysis is only a personal analysis (Update 17)
Drawing lines is from previous analyzes and has gone step by step so far
Analytical tools:
Elliott Waves
Classic channeling
Fast rsi indicator
Analyst Hypotheses:
In this analysis, it is assumed that we are at the end of the big bitcoin cycle and then we will be ready for a big recession in digital currencies.
With the failure of the trade line in the indicator, there is a possibility of a correction or re-fall, which is consistent with our wave count and reaching the midline of the channel as a growth target.
We expected the correction to come true
By completing a step that can be called 1 or A, we expect a temporary upward correction in the form of wave 2 or B (a positive divergence in the indicator), after which we expect the interface to fall again and complete its step. We will have
Note: Professional traders are reluctant to take the final cycles of the market
So if you do not act in this professional cycle, you will undoubtedly lose everything you have accumulated in this market.
Characteristics of final cycles
1. The strange increase in the volume of transactions that everyone remembers as good
2. In Bazaar Alley and ordinary people, everyone talks about it and comments on it
3. Very dreamy targets are created for currencies and analysts insist on it
Does the correction continue to the desired area:
The market determines and teaches us and teaches us
So right now the best way is to take short-term fluctuations based on whatever style you follow
In the end, this is a personal analysis and there is no certainty as to whether or not to do it.
Drawing lines is from previous analyzes and has gone step by step so far
Analytical tools:
Elliott Waves
Classic channeling
Fast rsi indicator
Analyst Hypotheses:
In this analysis, it is assumed that we are at the end of the big bitcoin cycle and then we will be ready for a big recession in digital currencies.
With the failure of the trade line in the indicator, there is a possibility of a correction or re-fall, which is consistent with our wave count and reaching the midline of the channel as a growth target.
We expected the correction to come true
By completing a step that can be called 1 or A, we expect a temporary upward correction in the form of wave 2 or B (a positive divergence in the indicator), after which we expect the interface to fall again and complete its step. We will have
Note: Professional traders are reluctant to take the final cycles of the market
So if you do not act in this professional cycle, you will undoubtedly lose everything you have accumulated in this market.
Characteristics of final cycles
1. The strange increase in the volume of transactions that everyone remembers as good
2. In Bazaar Alley and ordinary people, everyone talks about it and comments on it
3. Very dreamy targets are created for currencies and analysts insist on it
Does the correction continue to the desired area:
The market determines and teaches us and teaches us
So right now the best way is to take short-term fluctuations based on whatever style you follow
In the end, this is a personal analysis and there is no certainty as to whether or not to do it.