still a correction wave expected

٨ مايو ٢٠٢٣

In my last update from last publish on BTC analysis

I mentioned about the critical support area that need to hold price, to prevent more drop.

also mentioned below the baseline would be bearish, so yesterday price started to decline.


now if price continue to close below the critical level 28200$ we can expect more drop for coming days.

at this case between 25K & 26K as very strong demand zone, is our main target .

however if price turn back up to 28200$ and closed above this area this expectation may not come true for a while.

in my view for a healthy market action it really needs price have a correction wave downward before another impulsive upward pressure.

let's see what's the market makers intention to happen.


Enjoy the market

١٢ مايو ٢٠٢٣

تم فتح الصفقة

finally:
hit the first support area and bounced up, although I still expect 25K is our critical support level and even 24K can retest before new upward pressure, lets see

٢٢ مايو ٢٠٢٣

تم فتح الصفقة

as you can see price hit the first support level around 26K and bounced back but now it is moving in an ascending channel in range, so I put my baseline around 28K above the ascending channel and expect price touch this area before last drop or close below the channel and drop to the most demand area between 24K and 25K to complete its correction wave(abc). closing above 28K also possible , lets see

٢٤ مايو ٢٠٢٣

تم فتح الصفقة

watch for below or above ranged zone

٢٨ مايو ٢٠٢٣

تم فتح الصفقة

same area, same rule is still validate.
price came back to the range zone so we have same condition from my last update.

٥ يونيو ٢٠٢٣

ملاحظة

same move, same strategy
I just add baseline(dotted line)closing above it bullish below it bearish as it is now.

٧ يونيو ٢٠٢٣

أغلقت الصفقة: تم الوصول للهدف

still testing between 25K and 24K possible, however best strategy is now starting to buy with dollar cost average.