BTCUSD
This rally of BTC has made weekly RSI entered bullish area (RSI above 50 value) for the first time after 462 days in bearish area. We are just in 1st cycle wave and there is more room for BTC to grow but in this year BTC will be in consolidation phase and the price can not break last top high near $20000.
In short-term point of view, BTC is going to the end of 1st cycle wave, my count has found BTC is trading in 4th wave and the correction today might not finish. We have 2 scenarios for this correction (4th wave):
1) The ($5000 - $5100) area is strong enough, if BTC price hold on this area, the next rally (5th wave) will take place on monday or tuesday on next week.
2) In case of the sell off is stronger than expectation, BTC will drop to ($4700 - $4800) area (MA200), which is the super strong supportance. The next rally (5th wave) will postpone for a week.
Whatever scenarios will run, target of this rally is expected at around $6000, which is a very strong (base on technical) and psychological resistance. BTC has not enough buying force breaking this resistance on this 1st cycle wave. At that price ($6000), 2nd cycle wave will happen, I shall post analysis for this move on next post.
Due to high BTC dominance, altcoin will bleed too much even if BTC pump or dump. It is better to trade top coins and strong coins at this situation.
交易進行:
BTC follows 1st scenario, heading to $6000. Everything is on the way.
交易結束：目標達成:
BTC breaks all resistance, heading to $8500.
This analysis go to the end, new analysis will be posted.
This analysis go to the end, new analysis will be posted.