$BTC - March 2023 #Bitcoin Analysis Update
Here's an updated count. One thing I'd like to draw attention to is the non-stop increasing volume you can see on this move.
While it is possible to see wave 5s have more volume than wave 3, It is not a likely occurrence; plus RSI has already been divergent for a while.
This whole move above 19k could be the whole of wave 3, and wave 5 could take us well into the box above (which would increase the likelihood that this is a new impulse, and not the C wave of a nasty flat.).
A break above the 1.618 (green fib extension on the chart) is necessary for this to happen.
While it is possible to see wave 5s have more volume than wave 3, It is not a likely occurrence; plus RSI has already been divergent for a while.
This whole move above 19k could be the whole of wave 3, and wave 5 could take us well into the box above (which would increase the likelihood that this is a new impulse, and not the C wave of a nasty flat.).
A break above the 1.618 (green fib extension on the chart) is necessary for this to happen.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.