Bitcoin – global overview

16.04.2022 5:40 pm

Hello, everyone!

While the Bitcoin is staying at the same level let’s try to understand what is going to happen globally. We can see that the BTC is forming the 5-waves Elliott cycle during the last 3 years. Now we are in wave 4 which is represented as the flat correction. I have explained a lot of times why the wave 4 should be finished at $26000.

What could be the signs that it’s time to buy BTC with your full depo? I am going to use my bottom detection strategy which performs well on the 1D and 1W timeframe. We can see that the price created the low at $33k and grew up to the 26MA. BTC got a rejection from this MA and now is going to create a new lower low (below $33k). The MACD histogram has a very low value at the $33k BTC price and crossed the zero line 3 weeks ago. It means that if we will see the price below $33k and MACD histogram higher than it’s value at $33k, we can safety buy at the first increasing MACD histogram column.

Good luck!

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