Bitcoin – global overview

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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