From the Weekly forecast: “a possibility that $BTC makes 4-6 more green days. Next target – $37-38k”. Well, consider today as day #1 and let’s explore other details.
The Weekly Analysis – link at the end of this post.
Today BTC made a fifth green day in a row. The price jumped above 50d MA and the 8 and 20 EMA formed a bullish cross. More indicators support the rally.
I continue to maintain that $BTC could try to form another 3-5 green candles in a row. Odds: Strong Bullish
The coin continues to obey the channels that I charted 3 days ago. The Fibonacci levels seem to be playing well too. The chart remains intact.
Next major target – wave 3 (green rectangle with #3) – $37000-38000.
Possible timing – July 26-27.
There is a good chance BTC adds another few hundred points tomorrow. After that, expect a pause (horizontal move), followed by an attempt to hit $37-38k area that I would consider as the top of wave 3.
From yesterday’s forecast:
“The next week I expect a rally, possibly a very strong one.
- There are multiple signs that it is wave iii/3 and there is a good chance of a rally for 2-3 days.
- After that, I am expecting a sharp and short decline for wave 4.
- Closer to the end of week, the wave resumes and it could possibly reach $39-40k or a bit higher before starting a sizeable pullback. Timing for the start of pullback – Saturday-Sunday.“
The long term perspectives and the chart can be found in the Monthly Analysis 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.
Starting in August, I am planning to introduce Premium Content in my blog. The weekly, monthly, and long term analyses and charts will only be available for the premium followers and subscribers for a very humble fee. This is still work in progress and I will keep you informed.
Previous Monthly Analysis: