BTCUSD (CRYPTO) buy on dips

6 天前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..

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