BTC USD Trend AnalysisI said the fall action would be the first week of down.
I took a look to re-examine the current situation. I see currents trying to fill a triangle to make its next move.
I don't think it's right to analyze within a 15-minute time frame. So I don't trust this chart either. But assuming that's true, a price like the 48900 will resist.
Just before prices fall, two patterns appear on the chart. one of the two patterns told us about Bear levels in the past. I explained it in the final analysis. you can look there. in the second format, I think it means how far this going to go and where this going to meet the resistance.
Whether the pattern is correct or not, if the breakout is up, there will certainly be retractions at Fibonacci levels.
I don't know if this fall will go up or down. Technical readings give us a rising signal.
but there's one thing I've always believed in. History repeats itself. in other words, there have definitely been the same movements over time, and these movements can be a reference for us.
Looking at historical data, you can see the same traffic in some places.
Historical data is more important to me than any technical indicator.
Here, I see that the same movements have occurred in the past, and the trend has not ended.
if I didn't make a mistake in the candle math, I think we can expect an upward movement from the next day.
I have previously written that the decline experienced when the review was written on the monthly chart may actually be a retracement of an annual trend. BTC had a pullback from 60k to 30 . And I don't think it was the last straw that ended the trend. The monthly withdrawal rate was more than 55%. In terms of Elliott Waves, one of the two jumps should be softer. So this is not the retreat we expected at the monthly level. It should be more than 25%.
if the trend does not end, you can see the points below in the chart. in its simplest form, when we look only at fibonacci data, we see that the old data and fibonacci levels are in harmony.
finally, when we look at the 4-hour level, you can check whether prices will go up or down by looking at the support points.
p.s note: These are just ideas. that's not investment advice.
