#Bitcoin = Daily Analysis = 28.07.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading #charts #ElliottWave

Following the Elliott Waves, $BTC is approaching the reversal area. Most likely – $41000-43500. Timing – next 72 hours. Let’s explore some details.

From the weekly forecast: “There is a possibility that $BTC makes 4-6 more green days.” Today was day #4. Ditto!

The Weekly Analysis – link at the end of this post.

Daily
Today BTC made an eights green day in a row. The eights candle is a classical Spinning Top that requires a confirmation.
The price was rejected at 50d MA and there is a good chance the reversal starts at about this level. The daily indicators are turning bearish.
The weekly and monthly candles are turning bullish and the odds of completing this week/month as green have increased. I am very curious about the monthly and weekly candles that will be formed on Saturday.
– If $BTC closes below $38883, the bearish reversal confirmed.
– If $BTC closes above $40862, the rally continues (low probability).
– Any closure between, a decision postponed for 1-2 days.
Odds: Neutral-Bearish

Elliott Waves/Forecast

If you followed my posts for the last week, you would know that the chart designed a week ago practically remained the same with some minor tweaks.
The coin now completed four waves of wave 5 and is approaching the top. Based on the character of the current wave, I assume that $BTC is trying to form a diagonal for wave v of 5.
Target area – $41000-43500.
Timing – next 72 hours
I believe the top should happen before the month end for various reasons.
If the current wave completes as a diagonal, expect a rather quick retrace to $36400-36500 and possibly lower. I would need to see the beginning of the pullback to determine the targets.

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Reversal Call:

Previous Monthly Analysis:

Previous Weekly:

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