#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.

Daily
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.

Follow the blog on Twitter @InvestingAngles or, if you want all posts in your inbox, by email

As tweets are often buried among the other tweets on the topic and one is looking for regular updates, I recommend that you to sign to the email updates in the blog – every single post will be automatically sent to your inbox.

Previous Monthly Analysis:

Previous Weekly:

%d bloggers like this: