This analysis is an update of the analysis you see in the "Related publications" section
We had a bullish diametric for Bitcoin, and it seems that the price has reached the highest point of this diametric. Wave E of this diametric, which is a bullish wave, is nearing its end.
We refer to this as the highest point because Wave G might not reach the peak of Wave E.
We expect a rejection from the red box, and this rejection could be very strong. Smaller altcoins could experience a significant pump.
A daily candle closing above the invalidation level would invalidate this analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
We had a bullish diametric for Bitcoin, and it seems that the price has reached the highest point of this diametric. Wave E of this diametric, which is a bullish wave, is nearing its end.
We refer to this as the highest point because Wave G might not reach the peak of Wave E.
We expect a rejection from the red box, and this rejection could be very strong. Smaller altcoins could experience a significant pump.
A daily candle closing above the invalidation level would invalidate this analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
Trade active
The waves were correctly counted, and this scenario is still valid.The price slightly hunted our red box but did not touch the invalidation level. We are now in a rejection phase, likely forming wave f of E.
After completing wave g of E, the price could potentially drop to the area of the larger Diametric wave F, which corresponds to Demand Zone 2.
It is expected that the current altcoin season, which has already begun, will continue at least until Bitcoin dominance reaches Demand Zone 2.
Please note that wave g of E can be normal, extended, or truncated.
We’ll have to wait and see how it unfolds.
The analysis will be updated step by step as the structure develops.
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Disclaimer
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🔆To succeed in trading, just enter our Telegram channel:
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🔷Our Telegram channel has daily spot and futures signals 👉 t.me/Behdark_EN
💎 Exclusive signals are only shared on our Telegram channel
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.