As predicted since July 26th, despite what most traders said it was bullish, BTC has been falling into a Bullish Reversal Pattern called Reverse Head and Shoulders on weekly time.
On the daily chart (img 2) it is clearer to see, but the graphical analysis is weekly, so BTC will fall to the maximum of these 4 black lines and then rise to its maximum.
The TA will probably happen from the middle to the end of August as has happened in other years. Everything indicates that it will be the 14th due to the entry of new cryptocurrencies on that day, but it could be earlier due to the increase in new investors or later.
There is another confirmation analysis with Fibonacci Succession which from the 2016 AT has been forming in each halving an Arithmetic Fall Progression which in my graphical analysis would be between these 4 black lines on the weekly chart, 56,552.82; 58,310.28; 58,877.77; 61,651.27. And in relation to the maximum it would be between 95k and 400k.
The 4 hour chart (img 3) shows that we are still in TB.
Note 1: Unfortunately, it was not possible to do AT before 2017 because Binance deleted the charts.
Observation 2: I am demonstrating that it is possible to do graphical analysis on Binance with your cell phone. Binance could improve the viewing position of the charts, which is currently only done in a vertical position on cell phones. Now we also need to place it horizontally.
-> Remembering that I am not recommending this investment <span I am just demonstrating the graphical analysis within Binance on my cell phone.
02/08/2024