The possible structure of Bitcoin is shown in the figure. Yesterday, the low point of the Gartley harmonic was also the bottom of the 3-4 wave retracement. The current upward rush is 3-5. Wave 3 has been extended, and the market is looking for the top of wave 3.
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Qingmeizhubi: Bitcoin is rising again? Analysis of the rising structure
Bitcoin market analysis
When analyzing the market yesterday, I believed that the probability of Bitcoin rebounding was increasing.
The actual situation is that Bitcoin is ushering in a new round of increases. Today we will briefly analyze the possible structure of this round of Bitcoin increases.
On Wednesday, it was suggested that Bitcoin might be in an extended 3rd wave. The Fibonacci 2.618 position (67,320) is a reference, and this position has already been reached.
The possible structure diagram is as follows:
Yesterday's low point of the Gartley harmonic was also the bottom of the 3rd wave-4 retracement. The current upward surge is 3rd wave-5, and the market is looking for the top of wave 3.
The above picture is a schematic diagram.
From the perspective of the moving average chart, 65,000 is an important resistance level. After several efforts, the daily closing finally reached 65,000, and the resistance here turned into support.
When analyzing the market yesterday, I believed that the probability of Bitcoin rebounding was increasing.
The actual situation is that Bitcoin is ushering in a new round of increases. Today we will briefly analyze the possible structure of this round of Bitcoin increases.
On Wednesday, it was suggested that Bitcoin might be in an extended 3rd wave. The Fibonacci 2.618 position (67,320) is a reference, and this position has already been reached.
The possible structure diagram is as follows:
Yesterday's low point of the Gartley harmonic was also the bottom of the 3rd wave-4 retracement. The current upward surge is 3rd wave-5, and the market is looking for the top of wave 3.
The above picture is a schematic diagram.
From the perspective of the moving average chart, 65,000 is an important resistance level. After several efforts, the daily closing finally reached 65,000, and the resistance here turned into support.
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BTC
53,798.84
-3.98%
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