We remain super optimistic but also take caution.
Unlike other days when I share analysis of $BTC using the structural levels method, today I am going to share a double analysis.
Today we are going to look at BTC from two perspectives that tell us the same thing.
Initially, seen in daily timeframe, a 5-wave ascending triangle was formed, which has been very well respected and gives us a great indication of what is to come.
In principle: if the geometric figure is respected, we can expect a reaction in the 61,500 area. Then it will descend to the lower trend and finally give us that great bullish run.
Precautions:
Chartism is not one of my favorite methods, but it usually has great successes.
In daily time frames, the movements are brutal. Remember this.
Since the currently operable waves are D & E, we have some risk. Those last two are usually the most destructive, breaking the triangle (in a trap) and resuming the wave.
Therefore, if you trade futures, the stop should be generous. If you trade spot, you are more relaxed.
The market is going to drive you crazy, the price is going to seem meaningless and the direction may seem erratic, but I am giving you a map now so you can navigate in peace.
Reaffirming the issue of time, remember that the impact zones will vary depending on the time. You can draw the figure yourself to keep track.
Double analysis:
The reason I share this figure is because I found it very necessary to explain the following:
I respect whatever method they use, so I don't discredit Chartism. But on this occasion, there is a double confirmation.
Below I present the same graph but with the structural levels and I want you to pay attention.
Can you see which point it matches?
As mentioned in previous articles, when a support level is broken to the downside, it becomes future resistance.
Depending on the speed of the triangle's development, the price would hit the 61,500 or 62,500 zone. However, we are talking about a D wave, which has the particularity of being "not very respectful" and generating traps.
If a bull trap occurs, the 62,500 level (0.5 Fibo) enters the trap range.
In turn, the 63,200 area left us with a market gap. A liquidity zone that was not mitigated and that possibly attracts the price like a magnet.
Wave D must not exceed the previous maximum, as this would totally invalidate both analyses. It is unlikely, but not impossible.
Conclusions:
As my profile says, my intention is not to sell you anything, but rather to give you something. Knowledge so that you can progress on your own.
You now have a map that will guide you through the next few days, so there are no excuses for panicking because you don't know what's going on.
This exercise is an example of how to combine two strategies and achieve the same result.
Contrast this information with your own analysis.
This analysis is a PROBABILITY, do not take it as 100% certain, it depends on several things being respected.
Don't trade without certainty and manage your capital.
As long as everything is respected, you will be able to protect your money and increase it.
Finally: the time frame is 1 day, so don't expect the conclusion tomorrow, this time frame usually takes several days to be fulfilled, and we are entering the weekend where there is almost no movement.
I hope I have helped you, and if so, I ask for your help by sharing and leaving your opinions. This analysis took me a lot of work to give it to you.
Crypto Citizen says goodbye! Hug
