#Bitcoin = Daily Analysis + Long Term Forecast = 23.09.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading

Today BTC formed another bullish candle. However, there are a few reasons that keep me from turning bullish. Let’s explore.

CANDLES

Daily
From candles perspective, the Engulfing is confirmed today. However, the declining volume Technically BTC printed a candle that formed a bullish Engulfing. However, the declining volume and a few other indicators do not fully support the rally.
The candle closed in the previously identified inflection area and it is not clear which path BTC could take from there.
I continue to stay neutral until a direction is defined.
Odds: Neutral

ELLIOTT WAVES
This is an updated mid-term perspective.

The wave that started 2 days ago is still young and needs to make a few turns to reveal its true character. The blue/light blue counts remain primary.
We are getting close to printing the weekly candle that is currently bearish. I hope we can receive the answers on Friday/Saturday.

The Long Term Forecast remains unchanged for over 5 months.
Green – bullish, a rally continues (lower probability).
Light Blue – bearish, current wave – b of B.
Blue – bearish, current wave – diagonal for C.
Blue/LightBlue counts are primary and it is not yet clear which one.

FORECAST:

  1. Expect the range movements for the next 2 or more days.
  2. As long as BTC closes the days below ~$44.5-45.8k, the odds remain bearish.
  3. A daily closure above ~$45.8k would be a strong bullish statement.

REFERENCES:

Previous Monthly Analysis:

https://investingangles.com/2021/08/31/bitcoin-monthly-analysis-31-08-2021-btc-btc-crypto-cryptocurrency-investing-trading/

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This is the condensed Track Record of our most recent #crypto calls:

  1. $BTC – March 24 – call for imminent reversal, target $29000!
    This happened when $BTC was $52k and approaching the top, when the experts were calling for $100k and $150k next.
  2. $ETH – May 16 – call for strong decline, target $1700!
    This happened at the beginning of the decline when $ETH ws $3600 and everyone was saying it was a minor blip.
  3. $BTC, $ETH, $ADA, $LTC – July 21 – call on Bottom
    This happened on the day the cryptos formed a strong reversal combo and started rallying.
  4. $BTC – July 24 – call on the 10 consecutive green days
    This happened on the 4th day of the rally once we recognized a special pattern.
  5. $BTC – Aug 18 – call on Bottom
    This happened within minutes after the bottom, at 9:45 pm PST, when $BTC was $44250. It has rallied 10+% after the call.
  6. $BTC – Sep 6 – call on Top
    Within minutes after the top, at 10 pm PST, when $BTC was $52.5k. The next 10 hours it dropped to $42.1k, or 20%.

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