7.6 Bitcoin Trend Analysis



From 126k’s decline, two ABC structures of the same degree have formed on the larger timeframe. Currently, it is the B-wave rebound of the second ABC.
On the smaller timeframe, a clear five-wave uptrend has emerged, indicating that there will be at least a three-wave uptrend structure. At present, this is only the 1st wave or wave A.
For pullback levels, watch the area around 61600 and the area around 60600. After the pullback is complete, continue to look for bullish momentum; the upside target is near 7W.

Risk Disclaimer: This is for market structure analysis only and does not constitute any trading advice.
BTC0.12%
View Original
post-image
post-image
[The user has shared his/her trading data. Go to the App to view more.]
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 3
  • Repost
  • Share
Comment
Add a comment
Add a comment
NoSleepBridge
· 47m ago
How far the B-wave rebound can go still depends on volume. At this level, I am leaning conservative. Let's wait for a pullback confirmation.
View OriginalReply0
ZeroSlippage
· 50m ago
7W target is a bit aggressive, but the structural analysis is indeed clear—let’s first hang around 61600 and see if it can hold and get bought/absorbed.
View OriginalReply0
GateUser-5578154d
· 3h ago
From 126,000 down, it's a double ABC pattern. I agree with this wave count, but a reminder: the second B wave is often deceptive.
View OriginalReply0
  • Pinned