#Bitcoin = Daily Analysis = 20.07.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading #charts

As expected, today BTC continued down after the Falling 3 Methods yesterday. Indicators ticked down. Looking for further decline. Let’s explore the details from different perspectives.

Today BTC formed a standard bearish continuation candle on an increased volume. Indicators supported the move.
So far, the price was not able to break above 8 EMA. Until $BTC closes above 20 EMA, there is nothing bullish.
The weekly and monthly candle formations and indicators continue to put a bearish pressure on the daily and every smaller time frames.
Odds: Strong Bearish

Elliott Waves

There are no changes to the perspective EW counts. I view that the current wave is wave iii of 3 of possibly the final wave of the correction.

Forecast and Events to watch

If the EW counts and channel are correct, expect w3 to grind down to $17-13k and this wave could develop for about 2 months. Acceleration is possible.
BTC is approaching the previous low and could make a new one. This would be a very significant event from the perspective of candles. I outlined various scenarios in “Road to ATH or to Oblivion” that I posted several days ago. Link below.

1. If BTC breaks below $28901.8 before July 31, it opens a door to lower prices.
2. If BTC closes below $28901.8 on July 31, it swings this door wide open. Possible decline to the 4-digit prices.
3. If BTC breaks below $19870.6 anytime (long term support), the odds of going into the 4-digit area would greatly increase.

I am planning to update daily on changes after the closures, as usual.

The long term perspectives and the chart can be found in the Monthly/Weekly Analyses by the link below.

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Previous Monthly Analysis:

Previous Weekly:

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