The BTC rate has been working on the targets of the revised setup since yesterday. Let us recall that yesterday, at a price of $60,980, we wrote about three weighty arguments that the high of September 17 would be the start of a correction.
Today the price came to test the volume level of $59,335. And there is a fight between buyers and sellers for EMA 50 and 200 of the daily TF. They are in the area of the same level.
It is difficult to give and clarify forecasts before the key event for the financial market over the past three years. The "cut" at the moment of the publication of the Fed decision can reshape the structure. But while the structure is valid, we stick to our version. There is a decline in wave A. In case of a breakout of the level of $ 59,335, we expect that the low of wave A can be set early, on EMA 50 and 200 of the four-hour TF, which are heading for an intersection in the area of $ 58,900.
For now, we can only say that a downward trend has been established on the daily TF and if the reversal candles are maintained, we can expect them on September 23-25. Where the rate will be stretched before this date on all the events on the Fed and after is a question. But if buyers hold the volume level of $55,059, the idea that the growth will continue will be preserved and confirmed. And that in the larger picture, the growth from September 6 to 17 is only the first wave. What this ascending structure might look like and what goals to have was shown on September 10.
We will separately show the picture on P73 Trend & Target Dynamics on the four-hour TF #BTC.
Yesterday's growth moved the asset into the zone of a stable uptrend and has not yet knocked out the stop. Although it is close to it. If our forecast does not work out, the basic targets for growth for the indicator are $ 61,814 and $ 62,647. Taking into account today's Fed meeting, we will not be surprised if the stop is first taken, and then both basic targets 😁. A dangerous day.
Friends, as promised, have opened the submission of applications for testing the P73 Trend & Target Dynamics indicator. A week of access with the condition that an assessment and review will be given later. It is important for us to receive a reaction from the community and, if necessary, to refine the tool. But we cannot publish a link to the application form here, it is prohibited by the rules. So, no offense.
