BTCUSD (CRYPTO) buy on dips

12 sept.

BTCUSD made All Time High 73805 on 14th March 2024
post that made low till now is 49112 on 5th Aug 2024
corrected nearly for 5 months.

Elliott Wave Analysis :

BTCUSD in Triple correction namely w-x-y-x-z
of which last leg is in progress... till now low made 49112.
Expecting wave z to form Triangle Pattern.

Indicator :
MACD given Positive Diversion and Positive cross over.

Important support :
Channel support near 53000
psychological level and low 49112
Worst case expected low : 45000

Improtant Fibonacci level :
0.618 % : 58430 (Acting as immediate resistance)

Buying opportunity :
Conservative approach: Buy on crossing 0-b trendline and sustaining above golden fib 58430
Aggressive approach : accumulate slowly near 45000-58430

Upside Potentials:
73000++ in long term


Conclusion : Be cautious now in shorting BTCUSD. Now time to look for buying opportunity in dips.


Disclaimer : Study here presented only for Educational purpose... No Trading advise..

15 sept.

Note

60640 high till now

17 sept.

Note

61302 high till now..

19 sept.

Note

62574 high

20 sept.

Note

63848... super high.. moving as expected

20 sept.

Note

64129 ...high till now

24 sept.

Note

64734 high

27 sept.

Note

66448 high till now... slowly moving to target

17 oct.

Note

68300+ High till now....