A Brief Analysis of BTC’s Short-Term Trend from Dow Theory, Chan Theory, Elliott Wave Theory, Volume-Price Relationships, Order Flow, and Price Action
$BTC #BTC I. Dow Theory
Primary trend (1-hour timeframe): The primary downtrend since the historical high of 82,814 on May 6 was confirmed to have reversed in mid-August. The price began a strong rebound from the August 14 low of 62,488. After forming a double bottom at 63,979 at 03:00 on August 18, the bulls launched an epic rally. From 63,979, the price surged to the August 25 high of 81,235, for a cumulative gain of 17,256 (approximately +27