Aren’t candles amazing? Today $BTC formed exactly what was forecasted. Let’s discuss the details of the next move.
Yesterday’s call can be added to the list of recent prominent calls on Crypto:
- $BTC – March 24 (BTC – $52k, before the top) – call on imminent reversal, target $29000!
- $ETH – May 16 (ETH – $3600) – call on strong decline, target $1700!
- $BTC, $ETH, $ADA, $LTC – July 21 – Bottom call
- $BTC – July 24 – call on the 10 consecutive green days.
I doubt anyone can share a record of such timing and precision.
Enough marketing, let’s talk targets.
Today’s Maribozu is a serious bullish statement. First, it is strong by itself. Second, it formed a Rising 3 Methods (precisely as forecasted yesterday), which is one of the strongest continuation formations. The higher prices are almost guaranteed.
From yesterday’s forecast: “…The formation of the three red candles and their positioning suggest that $BTC to likely form a Rising 3 Methods combo.
I put a possible candle for tomorrow on the chart. If it forms at (ideally) a new higher high, a path to $49-52 would be open.”
Not much to add.
Odds: Strong Bullish
Elliott Waves + Forecast
Wave 3 of (3) is likely underway and all time frames point upwards. The channel seems to be defined and it would be a moderate one. A few new data points suggested that the target to wave (3) could be a bit higher. I added an Alt (3) rectangle on the chart.
The target for wave (3) – $49000-54000.
Most likely timing – August 19 or earlier.
Alternatively, there is a chance that the current wave is still part of a bigger wave IV as marked on the long term chart in the weekly update. This count could become main operative if $BTC closes tomorrow below $44404.
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Previous Monthly Analysis:
Previous Weekly Analysis:
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