BitcoinLong
BTCUSD could see another significant rise.
Updated
BTCUSD could see another significant rise. In my analysis I have highlighted the clearly identifiable wave phases of the last period. The red sections marked "A" are corrective wave sequences. The green sections marked "B" are main trend up wave sequences. If we look at the overall picture, we can see that the movement up to this point suggests a regular long-term uptrend. It can be seen that we are approaching the end of the corrective wave phase that has been in place since November. This may in fact be twice the structure of the "A" corrective wave. If we look at the wave sequences, we can reasonably assume that we are in front of a "2B" rising wave sequence. This means that the rising wave could be twice the "2A" of the previous corrective wave stage. This is indicated by the light blue square. In case my conclusion on the wave sequence is correct, the target price for the next rising wave could be : usd 90000 level.
Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.